PRECIOUS-Gold slips as positive Sino-U.S. trade vibes lift equities

* Platinum rises as much as 3.9% to more than one-year high
* SPDR Gold holdings up 6.6% so far in August
* U.S. Fed, ECB expected to cut rates next month
* Treasury yields move off record lows

(Adds comments, updates prices)
By Asha Sistla
Aug 29 (Reuters) - Gold fell on Thursday as the dollar rose
and stock markets gained confidence with the latest positive
development in the U.S.-China trade deal, but concerns over
decelerating global economy kept prices hemmed near a multiyear
peak.
Silver eased alongside gold after hitting its highest in
more than two years.
Spot gold XAU= fell 0.8% to $1,526.62 per ounce at 1:49
p.m. EDT (1749 GMT), hovering near its highest level since April
2013 at $1,554.56 on Monday.
U.S. gold futures GCcv1 settled down 0.8% at $1,536.90 an
ounce.
"There is more optimism on the trade talks and that seems to
have some people lightening up on gold," said Michael Matousek,
head trader at U.S. Global Investors. "Gold has been up for the
past few months, and it's not like it is breaking down. You
still want to buy pull-backs on gold."
Gold prices have gained about 8% so far this month, which
could be its best month since June 2016 as fragile sentiment
over the global economy boosted demand for the safe-haven metal.
"A lot of traders out there feel that even though China came
back and said that they want to talk calmly, nothing has really
changed ... (Even) with the markets rallying, gold has been
pretty much flat," Matousek added.
Wall Street gained after China's commerce ministry indicated
that Beijing was hopeful of a resolution to the long-standing
trade dispute with the United States. .N
Meanwhile, U.S. Treasury yields moved off recent lows and
the dollar .DXY rose 0.3%, making gold less attractive for
holders of other currencies. US/ USD/
The U.S. Federal Reserve and the European Central bank are
widely expected to cut rates next month. Many investors believe
the Bank of Japan could follow suit. MKTS/GLOB
With the current economic weakness, "global central banks
will be accommodative and that is supportive for gold," said
Jeff Klearman, portfolio manager at GraniteShares.
Holdings of the SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, have increased by 6.6% this
month. GOL/ETF
Spot silver XAG= fell 0.8% to $18.19 per ounce, after
matching a high last seen in April 2017 of $18.65.
"Silver had lagged in performance for a long time and now
it's joining the ranks of safe-haven investments. It's
benefiting from that, and you see platinum doing the same
thing," said Klearman.
Platinum XPT= rose 1.4% to $912.62 per ounce after
climbing as much as 3.9% to its highest since April 2018 at
$935.12, while palladium XPD= rose 0.3% to $1,472.71 per
ounce.