June 10 (Reuters) - Gold retreated from a 14-month peak on
Monday after an agreement late last week between the United
States and Mexico to avert a tariff war crimped safe-haven
demand for the metal.
FUNDAMENTALS
* Spot gold XAU= had fallen 0.5% to $1,333.44 per ounce by
0103 GMT.
* In the previous session, the metal hit its highest since
April 19, 2018 at $1,348.08 an ounce.
* U.S. gold futures GCv1 were 0.5% lower at $1339.90 an
ounce.
* The United States and Mexico struck a deal on Friday to
avert a tariff war, with Mexico agreeing to rapidly expand a
controversial asylum programme and deploy security forces to
stem the flow of illegal Central American migrants. * U.S. President Donald Trump defended the deal with Mexico
against criticism that there were no major new commitments to
stem a flow of Central American migrants crossing into the
United States, and said on Sunday more details would soon be
released. * U.S. stock futures jumped, drawing optimism from the
agreement, while being further supported by bets of a U.S.
interest rate cut after Friday's soft payroll data. MKTS/GLOB
* The U.S. dollar .DXY also rose 0.2% against the
safe-haven yen JPY= having been pressured most of last week by
increasing bets of a U.S. interest rate cut. FRX/
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.15% to 756.42
tonnes on Friday from 757.59 tonnes on Thursday. GOL/ETF
* The value of China's gold reserves rose to $79.83 billion
in May from $78.35 billion at the end of April, central bank
data showed on Monday. * Gold prices in India flipped into discounts last week as a
rally in local prices dampened demand, while premiums in other
major Asian hubs declined as a price surge prompted investors to
sell back bullion. GOL/AS
* China is preparing to curb some technology exports to the
United States, the chief editor of China's Global Times
newspaper said on Saturday, thawing hopes of a Mexico-like
settlement in a trade war between the two countries.
AHEAD (GMT)
* 0830 UK GDP Est 3M/3M April
* 0830 UK GDP Estimate MM YY April
* 0830 UK Manufacturing Output MM April
* NA China Exports YY May
* NA China Imports YY May
* NA China Trade Balance USD May