PRECIOUS-Gold eases as investors await further signals on Fed stance

* Palladium could climb to $1,530/oz in near term -UBS
* SPDR Gold holdings up by about 24 tonnes so far in August

(Updates prices)
By Sumita Layek and Asha Sistla
Aug 22 (Reuters) - Gold inched lower on Thursday after
comments from U.S. Federal Reserve officials dampened hopes for
additional monetary easing, although investors awaited further
clarity from the central bank chief at the Jackson Hole
symposium.
Spot gold XAU= was down 0.2% at $1,498.45 an ounce by 1:42
pm EDT (1742 GMT), having earlier touched its lowest since Aug.
13 at $1,491.50. U.S. gold futures GCcv1 settled down 0.5% at
$1,508.5.
"The entire market is in a wait-and-see mode, but there has
been a steady stream of Fed speakers who have come out with a
more hawkish message," said Daniel Ghali, commodity strategist
at TD Securities.
"This could be interpreted as an attempt to ready the
markets for a less-dovish-than-expected speech from Fed Chair
Jerome Powell."
A day after minutes of the Fed's July meeting showed
policymakers were divided over interest rate cuts, Philadelphia
Fed President Patrick Harker said he does not see the case for
additional stimulus. Focus is now on Powell's speech on Friday during the central
bank's symposium in Jackson Hole, Wyoming, with market
participants expecting him to clarify the July minutes and
monetary policy direction.
Lower U.S. interest rates put pressure on the dollar and
bond yields, increasing the appeal of non-yielding bullion.
"For the most part, traders just see this drop (in prices)
as an opportunity to pick up a little bit more, but nobody is
expecting any big moves out of Jackson Hole," said Michael
Matousek, head trader at U.S. Global Investors.
Gold had briefly turned positive after U.S. manufacturing
data released earlier in the day showed the first month of
contraction in almost a decade amid concerns over whether the
U.S.-China trade conflict would trigger a recession.

Investors will also keep a close eye on the Group of Seven
summit this weekend.
Meanwhile, holdings of SPDR Gold Trust GLD , the world's
largest gold-backed exchange-traded fund, have increased by
about 24 tonnes so far this month. GOL/ETF
Palladium XPD= rose 1.2% to $1,489.50 an ounce after
nearing $1,500 on Wednesday.
"We expect palladium to climb to $1,530 in the near term.
Although slower global growth and risk aversion act as
headwinds, palladium remains supported by fundamentals," UBS
analysts said in a note.
"Rising palladium loadings as emissions regulations tighten
offset weakness in global car sales, suggesting continued growth
in demand. Given constrained supplies, this implies that market
deficits are likely to persist."
Palladium outshone gold for the first time in 16 years
toward the end of 2018, but gold regained its edge over the
autocatalyst metal on Aug. 1. Silver XAG= fell 0.3% to $17.07 per ounce, while platinum
XPT= edged 0.8% higher to $859.80.