Sept 2 (Reuters) - Gold prices gained early on Monday as the
United States and China launched fresh tit-for-tat tariffs on
each others exports, escalating the prolonged trade war and
adding to fears of a global economic slowdown.
FUNDAMENTALS
* Spot gold XAU= was 0.6% higher at $1,528.31 per ounce at
0048 GMT, having fallen to a one-week low at $1,517.11 in the
previous session.
* U.S. gold futures GCv1 were up 0.5% at $1,537.70 an
ounce.
* The United States began imposing 15% tariffs on a variety
of Chinese goods on Sunday - including footwear, smart watches
and flat-panel televisions - as China began imposing new duties
on U.S. crude. U.S. President Donald Trump said the sides would
still meet for talks later this month. * China plans to provide more support for its economy,
including investing in infrastructure projects and regional
development, while maintaining a prudent monetary policy with
"reasonably" ample liquidity, the State Council said on Sunday.
* The dollar index .DXY against a basket of six major
currencies was down 0.1%, while Wall Street stock futures
weakened in early trade on Monday, setting a dour tone for Asian
markets. USD/ MKTS/GLOB
* New Austrian National Bank governor, Robert Holzmann, is
wary about adding further stimulus to the euro zone economy, he
told Austrian broadcaster ORF TV on Sunday, his first day on the
job. * SPDR Gold Trust (P:GLD) GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.23 percent to
878.31 tonnes on Friday from 880.36 tonnes on Thursday.
* Hedge funds and money managers increased their bullish
stance in COMEX gold and upped net long positions in silver
contracts in the week to Aug. 27, the U.S. Commodity Futures
Trading Commission (CFTC) said on Friday. * British lawmakers opposed to a no-deal Brexit will attempt
to pass a law this week to stop Prime Minister Boris Johnson
from letting Britain crash out of the European Union on Oct. 31,
the opposition Labour Party's Brexit spokesman said.
* Thousands of protesters blocked roads and public transport
links to Hong Kong airport on Sunday in a bid to draw world
attention to their fight for democracy for the Chinese-ruled
city which is facing its biggest political crisis in decades.
AHEAD (GMT)
0145 China Caixin Mfg PMI Final Aug
0500 India IHS Markit Mfg PMI Aug
0600 Russia Markit Mfg PMI Aug
0750 France Markit Mfg PMI Aug
0755 Germany Markit/BME Mfg PMI Aug
0800 EU Markit Mfg Final PMI Aug
0830 UK Markit/CIPS Mfg PMI Aug