PRECIOUS-Gold eases as hopes of U.S.-China trade progress lift risk appetite

(Updates prices)
* Gold dips for fourth straight session
* U.S. President Trump to speak in New York on trade

By Karthika Suresh Namboothiri
Nov 12 (Reuters) - Gold prices eased on Tuesday as
expectations of positive trade talks between the United States
and China bolstered risk appetite, while investors booked
profits.
Spot gold XAU= slipped 0.2% to $1,453.46 per ounce as of
1211 GMT, extending declines into a fourth straight session.
U.S. gold futures GCcv1 also dropped 0.2%, to $1,454.20
per ounce.
World markets edged higher on Tuesday as investors awaited a
speech by U.S. President Donald Trump on trade policy, following
news he will probably delay a decision on whether to slap
tariffs on European autos. MKTS/GLOB
EU officials said Trump was expected to announce this week
he was delaying the tariff decision on cars and auto parts
imported from the European Union likely for another six months,
also boosting expectations about the president's speech later in
the day about the long-drawn trade war with China. "(The trade talks are) probably going to end in a truce, but
that could change with a tweet. So we will continue to have that
nervousness in the background," said ABN Amro analyst Georgette
Boele, adding that gold's dip was largely due to profit-taking.
"We are close to quite an important level. From a technical
point of view, $1,450 was a breakout level."
Last week, officials from China and the United States said
they had a deal to roll back tariffs, only for Trump to deny any
pact had been agreed.
"Bullion was heavily sold on growing expectations of a
trading deal between the U.S. and China, and also due to the
strengthening of the greenback," said Carlo Alberto De Casa,
chief analyst at ActivTrades, in a note.
"The breakdown of the support level of $1,480 has triggered
some profit-taking, with investors willing to bring home gains
achieved in the first part of the year after this correction."
However, violent protests in Hong Kong over the weekend kept
investors anxious, knocking Asian shares .MIAPJ0000PUS down
for two straight sessions.
Hong Kong police fired tear gas in the heart of the Central
financial district on Tuesday and at two university campuses
after territory-wide transport disruptions wreaked commuter
havoc in the Chinese-ruled city. Elsewhere, palladium XPD= gained 1.1% to $1,705.99 per
ounce, silver XAG= dropped 0.5% to $16.78 an ounce, and
platinum XPT= inched 0.2% higher to $877.30.