<p>Gold prices held firm above the key $1,900-level on Monday after US consumer prices rose more than expected in April and supported the metal as an inflation hedge.</p>.<p>Spot gold was steady at $1,903.25 per ounce by 0036 GMT.</p>.<p>US gold futures edged 0.1% higher to $1,907 per ounce.</p>.<p>US consumer prices surged in April, with a measure of underlying inflation blowing past the Federal Reserve's 2% target and posting its largest annual gain since 1992.</p>.<p>The US 10-year Treasury yield fell to 1.593%, reducing the opportunity cost of holding non-interest bearing gold.</p>.<p>The White House on Friday sent Congress a $6 trillion budget plan that would ramp up spending on infrastructure, education and combating climate change.</p>.<p>Asian shares edged higher on Monday, looking to extend their recent rally to the third week should US jobs figures show the expected revival in hiring in May and keep the global recovery on track.</p>.<p>SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 1,043.21 tonnes on Friday from 1,044.08 tonnes on Thursday.</p>.<p>Physical gold demand in second-biggest bullion consumer India was negligible last week with most jewellery stores still shut by Covid-19 lockdowns, forcing dealers to offer steep discounts.</p>.<p>Japan's industrial output rose in April, helped by the production of general purpose and electrical machinery, in a sign manufacturers continued to benefit from a recovery in appetite for goods in the United States and China.</p>
<p>Gold prices held firm above the key $1,900-level on Monday after US consumer prices rose more than expected in April and supported the metal as an inflation hedge.</p>.<p>Spot gold was steady at $1,903.25 per ounce by 0036 GMT.</p>.<p>US gold futures edged 0.1% higher to $1,907 per ounce.</p>.<p>US consumer prices surged in April, with a measure of underlying inflation blowing past the Federal Reserve's 2% target and posting its largest annual gain since 1992.</p>.<p>The US 10-year Treasury yield fell to 1.593%, reducing the opportunity cost of holding non-interest bearing gold.</p>.<p>The White House on Friday sent Congress a $6 trillion budget plan that would ramp up spending on infrastructure, education and combating climate change.</p>.<p>Asian shares edged higher on Monday, looking to extend their recent rally to the third week should US jobs figures show the expected revival in hiring in May and keep the global recovery on track.</p>.<p>SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 1,043.21 tonnes on Friday from 1,044.08 tonnes on Thursday.</p>.<p>Physical gold demand in second-biggest bullion consumer India was negligible last week with most jewellery stores still shut by Covid-19 lockdowns, forcing dealers to offer steep discounts.</p>.<p>Japan's industrial output rose in April, helped by the production of general purpose and electrical machinery, in a sign manufacturers continued to benefit from a recovery in appetite for goods in the United States and China.</p>