PRECIOUS-Gold holds around $1,500/oz on trade war, global growth woes

* SPDR Gold holdings jump 1% on Wednesday
* Spot gold may gain further to $1,524/oz - technicals
* Fed's Evans signals support for lower U.S. rates

(Updates prices)
By Harshith Aranya
Aug 8 (Reuters) - Gold held steady on Thursday, hovering
near the key psychological level of $1,500, supported by
uncertainties around Sino-U.S. trade war and a slew of interest
rate cuts by global central banks amid fears of an economic
slowdown.
Spot gold XAU= was little changed at $1,499 per ounce as
of 0722 GMT.
On Wednesday, prices soared over 2% to breach the $1,500
barrier for the first time since April 2013.
U.S. gold futures GCcv1 were down 0.6% at $1,510.10 an
ounce.
"The moves by central banks around the world are very
important, and the focus we are getting on currency markets for
potential for competitive devaluation remains supportive for
gold," said Michael McCarthy, chief market strategist, CMC
Markets.
"There is an important resistance zone around $1,525. Given
the speed of the rise in gold prices, we may have to see some
period of consolidation before there is any test of that higher
level."
Chicago Fed President Charles Evans signalled on Wednesday
he was open to lowering rates to bolster inflation and counter
risks to economic growth. Interest rates futures suggested traders are building bets
that the Federal Reserve would cut rates three more times by
this year-end to avert a recession. FEDWATCH In a further indication of an economic downturn, central
banks in New Zealand, India and Thailand surprised markets with
aggressive easings on Wednesday. The Philippines central bank is
expected to cut rates later today. MKTS/GLOB
Meanwhile, the dollar index .DXY inched down 0.1% after
falling to a two-week low earlier this week. U.S. 10-year
Treasury yields US10YT=RR dropped further below three-month
rates, an inversion that has reliably predicted recessions in
the past. US/ USD/
Asian shares were trying to rally on Thursday as Beijing
reported better trade numbers while also limiting the fall in
its yuan, offering temporary relief from fears of a global
currency war. MKTS/GLOB
"We still think that gold could likely push higher over the
short-term," INTL FCStone analyst Edward Meir said in a note.
"But it will have to tee off from more turmoil in the
financial markets as opposed to the relative calm we have been
seeing over the past 48 hours."
Holdings of SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, rose 1.02% to 845.42 tonnes on
Wednesday from Tuesday. GOL/ETF
Spot gold may gain further to $1,524 per ounce, as it has
cleared a resistance at 1,497, according to Reuters technical
analyst Wang Tao. Elsewhere, silver XAG= eased 0.2% to $17.07 per ounce,
after hitting a more than one-year high in the previous session.
Platinum XPT= fell 0.2% to $860.68, and palladium XPD=
climbed 0.6% to $1,424.08 an ounce.

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