Gold gains on safe-haven demand amid global uncertainties

Dec 30- Gold climbed on Monday as conflict in the Middle East lifted bullion's safe-haven appeal, while investors looked forward to U.S. Federal Reserve's interest rate outlook and Donald Trump's tariff policies, which could shape the metal's 2025 trajectory.

FUNDAMENTALS

* Spot gold rose 0.1% to $2,622.93 per ounce, as of 0040 GMT. U.S. gold futures gained 0.2% to $2,637.30.


* On the geopolitical front, Israeli strikes killed at least 25 people, medics and the civil emergency service said. Elsewhere, South Korea's parliament impeached acting President Han Duck-soo on Friday, less than two weeks after suspending President Yoon Suk Yeol.

* Gold is considered a hedge against geopolitical turmoil and inflation, but higher rates reduce the non-yielding asset's appeal.

* The bullion has gained over 27% so far this year and scaled an all-time peak of $2,790.15 on Oct. 31, fuelled by significant Fed reductions, including a jumbo cut in September, and heightened geopolitical uncertainties.

* Trading activity is expected to remain quiet at the year-end.

* Markets are now preparing for major policy shifts, including tariffs, deregulation and tax changes, in 2025 as President-elect Donald Trump returns to the White House in January.

* After aggressively cutting rates in September and November, the U.S. central bank persisted with easing in December but hinted at fewer reductions in 2025.

* SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.03% to 872.52 tonnes on Friday.

* Gold discounts in India widened to a nearly three-month high last week as rising prices dampened demand, while China shifted to premium as consumers began stocking up for the upcoming Lunar New Year celebrations.

* Spot silver added 0.1% to $29.41 per ounce, platinum gained 0.4% to $922.80 and palladium climbed 0.5% to $915.69.

DATA/EVENTS (GMT) 0030 Japan JibunBK Mfg PMI Final SA