May 13 (Reuters) - Gold prices steadied on Monday as trade
talks between the United States and China hit a wall, raising
doubts over whether the two countries would be able to reach a
deal, thereby boosting demand for safe-haven assets.
FUNDAMENTALS
* Spot gold XAU= gained 0.1% to at $1,286.59 per ounce at
0113 GMT.
* U.S. gold futures GCv1 were steady at $1,287.90 an
ounce.
* The United States and China appeared at a deadlock over
trade negotiations on Sunday as Washington demanded promises of
concrete changes to Chinese law and Beijing said it would not
swallow any "bitter fruit" that harmed its interests.
* Washington had already hiked tariffs on $200 billion worth
of Chinese exports on Friday, while U.S. President Donald Trump
further ordered his trade chief to begin the process of
imposing tariffs on all remaining imports from China.
* Stock futures turned red in Asia early on Monday as a
standoff in Sino-U.S. trade talks blunted risk appetite,
underpinning safe harbours including the Japanese yen and
sovereign bonds. MKTS/GLOB
* The safe-haven yen JPY= edged higher and the Chinese
yuan and Australian dollar dipped early on Monday after the
latest escalation in the trade war between the United States and
China. FRX/
* Gold demand jumped last week in India due to increased
retail purchases for key festival and weddings on price
corrections, while premiums in China eased as buying slowed at
the world's top consumer. GOL/AS
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.91 percent to
733.23 tonnes on Friday from 739.94 tonnes on Thursday.
GOL/ETF
* Hedge funds and money managers raised their net long
positions in COMEX gold for the week to May 7, the U.S.
Commodity Futures Trading Commission (CFTC) said last week.
CFTC/
* South Africa's Competition Appeals Court will rule next
week on a union request to block the mining deal in which
Sibanye-Stillwater SGLJ.J intends to acquire rival Lonmin
LMI.L , legal counsel said on Friday. * The price gap between palladium XPD= and its sister
metal platinum XPT= needs to shrink as number one platinum
producer South Africa requires a higher price for the metal to
keep investing in new supply, Russia's Norilsk Nickel GMKN.MM
said. DATA AHEAD (GMT)
* 1200 India CPI Inflation YY April