March 16 (Reuters) - Gold prices were steady on Monday after paring a near 1% fall earlier in the session, as a softer dollar helped offset waning hopes of near-term U.S. interest-rate cuts due to elevated energy prices.
FUNDAMENTALS
* Spot gold was unchanged at $5,017.53 per ounce, as of 0101 GMT. U.S. gold futures for April delivery fell 0.8% to $5,020.90.
* The dollar nudged lower, making greenback-priced commodities such as bullion cheaper for holders of other currencies.
* The U.S. 10-year Treasury yields eased, increasing the appeal of non-yielding bullion.
* Oil prices remained above $100 a barrel as the U.S.-Israeli war against Iran entered a third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut in the biggest disruption to global supplies ever.
* Higher crude prices feed into inflation by raising transportation and production costs. Gold is considered an inflation hedge, but high interest rates make yield-bearing assets more attractive, weighing on its appeal.
* U.S. President Donald Trump threatened more strikes on Iran's main oil export hub, Kharg Island, over the weekend and said he was not ready to reach a deal to end the war.
* Trump insisted that nations relying heavily on oil from the Gulf have a responsibility to protect the strait.
* Meanwhile, the Wall Street Journal reported the Trump administration plans to announce as early as this week that multiple countries have agreed to form a coalition to escort ships through the Strait of Hormuz.
* The U.S. Federal Reserve is widely expected to hold interest rates steady for a second straight meeting when it gives its policy statement on Wednesday.
* Spot silver was up 0.4% at $80.88 per ounce. Spot platinum gained 0.9% to $2,049.50 and palladium rose 0.3% to $1,556.50.
DATA/EVENTS (GMT)
0200 China Retail Sales YY Feb
1315 US Industrial Production MM Feb
(Reporting by Noel John in Bengaluru; Editing by Rashmi Aich)
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