Gold prices held largely steady on Tuesday as investors stayed on the sidelines, cautious about Middle ​East tensions, after ⁠U.S. President Donald Trump reportedly said he thinks his war ‌against Iran "is very complete".

FUNDAMENTALS

* Spot gold eased 0.1% to $5,131.24 per ounce, as of 0051 GMT. ​U.S. gold futures for April delivery rose 0.7% to $5,141.40.

* The dollar fell 0.4%, making ​greenback-priced bullion cheaper ​for holders of other currencies.

* Trump on Monday predicteda quick end to the war - ahead of the initial four-week time ⁠frame he had laid out - even as Iran's hardliners rallied behind new Supreme Leader, Mojtaba Khamenei, signalling no willingness to back down any time soon.

* The war has effectively shut the Strait of Hormuz, a chokepoint ​for a ‌fifth of ⁠global oil and ⁠liquefied natural gas, stranding tankers for over a week and forcing producers to ​halt output as storage fills, driving energy prices soaring.

* ‌Higher energy costs fuelled inflation concerns ⁠and further dimmed the prospects for a near-term cut in interest rates by the U.S. Federal Reserve.

* Investors expect the Fed to keep rates steady at the end of its two-day meeting on March 18, per CME Group's FedWatch tool. The odds of a June hold, which were below 43% last week - when the war began, have now climbed to more than 63%.

* Gold is seen as an ‌inflation hedge, but low rates boost its appeal as ⁠a zero-yield asset. * Markets are now awaiting the ​U.S. consumer price index for February, due on Wednesday, and Personal Consumption Expenditures (PCE) index - the Fed's preferred inflation gauge - on Friday.

* Spot silver rose 0.4% ​to $87.32 per ‌ounce. Spot platinum fell 0.6% to $2,168.52 and palladium eased 0.1% to $1,689.11.

DATA/EVENTS (GMT) 1400 US ⁠Existing Home Sales Feb (Reporting ​by Noel John in Bengaluru; Editing by Sumana Nandy)