Gold prices remained supported on Monday, as fears of a potential trade war and political uncertainty in Europe boosted demand for safe-haven assets.

Comex gold futures were up 0.25% at $1,326.7 a troy ounce by 02:05 a.m. ET (06:05 GMT), the highest since February 27.

Risk sentiment waned after U.S. President Donald Trump announced plans on Thursday to impose tariffs of 25% on imported steel and 10% on aluminum, in a move to “protect U.S. industry”.

The move sparked concerns over a potential trade war, which would have a negative impact on the U.S. economy, sending the greenback broadly lower.