"Gold's key advantage is that it is no one else's liability," said Nikos Kavalis, managing director at Metals Focus.

Gold pushed higher in early Asia trading after US President Donald Trump called for the immediate evacuation of Tehran, boosting demand for havens as investors track hostilities between Israel and Iran.

Gold futures pared gains after rising close to a fresh record earlier in the session. Futures were down 0.5% at $3,433.90 a troy ounce, after opening near the record high of $3,509.90/oz. The precious metal rallied on Friday as rising Middle East tensions fuelled safe-haven demand,

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The announcement represents another chapter in the unprecedented blurring of lines between Trump's personal business interests and his executive authority.

While it may sound like a bad SNL sketch come to life, the news is true — the Trump Organization (revealed via Trump's son, Eric) has announced that they've licensed the presidential family name for smartphones and cellular services, calling it " Trump Mobile. "