May 14 (Reuters) - Gold steadied on Tuesday, having recouped
the key $1,300-level in the previous session, after Beijing's
announcement of a retaliatory tariff-hike to counter Washington
rocked risk sentiment, embellishing appetite for safe-haven
assets.
FUNDAMENTALS
* Spot gold XAU= edged 0.1% higher to $1,301.40 per ounce
at 0113 GMT, having touched $1,303.26, its highest in over a
month, earlier in the session.
* In the previous session, the metal had risen by about 1.2%
to peak at $1,301.10 an ounce.
* U.S. gold futures GCv1 also inched 0.1% higher to
$1,302.40 an ounce.
* China said on Monday it would impose higher tariffs on
most U.S. imports on a revised $60 billion target list, hitting
back at a tariff hike by Washington on $200 billion of Chinese
goods. * U.S. President Donald Trump said he would meet Chinese
President Xi Jinping next month as the trade war between the
world's two largest economies intensified, sending shivers
through global markets. * Shares in Asia extended losses on Tuesday following sharp
falls on Wall Street overnight, the yen strengthened and U.S.
Treasury yields ticked lower as the trade war between China and
the United States escalated. MKTS/GLOB
* U.S. Treasury yields fell to six-week lows on Monday as
investors piled into low-risk assets like gold, following
China's plan on retaliatory tariffs. US/
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.44% to 736.46
tonnes on Monday from 733.23 tonnes on Friday. GOL/ETF
* China raised gold holdings by 11.20 tonnes to 1,885.54
tonnes in March, the International Monetary Fund (IMF) said on
Monday. * Soaring investment demand will create platinum XPT=
shortages in 2019, while the palladium XPD= market will see a
deficit for the eighth consecutive year due to robust demand
from the auto sector, specialist materials firm Johnson Matthey
said. * Investors have poured cash into bets that platinum prices
will revive after a decade of declines, but excess supply is
likely to keep a lid on gains. DATA AHEAD (GMT)
* 0830 UK ILO Unemployment Rate March
* 0830 UK Claimant Count Unem Chng April
* 1230 U.S. Import, Export prices April