PRECIOUS-Gold rises as trade uncertainty hurts risk appetite

(Updates prices)
* Fed Chair Powell testimony at 1600 GMT
* Platinum rises after four losing sessions

By Karthika Suresh Namboothiri
Nov 13 (Reuters) - Gold prices gained on Wednesday on lack
of clarity on the U.S.-China trade negotiations, keeping markets
wary about the tariff war's toll on the health of the global
economy.
Spot gold XAU= had risen 0.6% to $1,465.18 per ounce by
1251 GMT. U.S. gold futures GCcv1 were 0.9% higher at
$1,466.10.
U.S. President Donald Trump said a trade deal was "close"
but gave no new details on when or where an agreement would be
signed, disappointing investors in what was billed as a major
speech on his administration's economic policies.
He also rattled some investors by threatening China with
even more tariffs if they do not sign a deal. "Anything around (U.S.-China) trade talks are going to
impact global sentiment... Protests in Hong Kong present major
geopolitical risks, something that is going to continue fuelling
risk aversion," said FXTM analyst Lukman Otunuga.
"The key concern is whether the U.S. would take a diplomatic
stance with regards to Hong Kong. If the U.S. does make a move,
it is going to link back to U.S.-China trade talks."
In recent weeks, both Beijing and Washington have hinted
they were making progress toward an agreement that could likely
scale back some tariffs, but a lack of information is starting
to perturb markets.
Protests in Hong Kong continued to add to market jitters,
as anti-government protesters planned to paralyse parts of the
Asian financial hub for a third day, with transport, schools and
many businesses closing after violence escalated across the
city. "We believe gold's recent weakness is primarily a result of
cooling sentiment in the futures market and some selling by
short-term speculators, trend followers and technical traders...
Current weakness represents a buying opportunity in our view,"
Julius Baer analyst Carsten Menke said in a note.
The U.S. dollar was flat as investors awaited testimony from
Federal Reserve Chairman Jerome Powell before a congressional
committee at 1600 GMT. USD/
Gold is highly sensitive to rising interest rates, which
lift the opportunity cost of holding non-yielding bullion. They
also boost the dollar, in which the metal is priced.
Among other precious metals, palladium XPD= jumped 1.8% to
$1,730.17 an ounce, while silver XAG= gained 1.2% to $16.98.
Platinum XPT= was up 0.8% to $875.26 an ounce and set to end
four straight sessions of declines.