PRECIOUS-Gold eases on firmer equities, U.S.-China row limits fall

* SPDR Gold Trust holdings rise to over 7-year highs
* Stocks gain on optimism over COVID-19 vaccine
* Interactive graphic tracking global spread of coronavirus:
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(Adds comments, updates prices)
By Eileen Soreng
July 15 (Reuters) - Gold prices on Wednesday retreated from
a one-week high hit earlier in the session as other assets rose,
but was kept above the key $1,800 level by simmering U.S.-China
tensions and mounting coronavirus cases.
Spot gold XAU= dipped 0.1% to $1,805.97 per ounce by 1215
GMT, having hit its highest since July 9 at $1,814.40. U.S. gold
futures GCv1 were down 0.3% at $1,807.70.
"Hopes of a vaccine are giving all markets a lift and gold
is suffering a little bit on the back of that," said Michael
Hewson, chief market analyst at CMC Markets UK.
But gold will be bought on dips with rising infection rates,
fears of a second wave of coronavirus and U.S.-China tensions
driving prices higher, Hewson added.
World shares climbed towards a four-month high driven by
optimism surrounding an experimental vaccine for COVID-19
produced by U.S. company Moderna MRNA.O . MKTS/GLOB
Friction between the United States and China limited gold's
decline.
U.S. President Donald Trump signed an executive order ending
preferential treatment for Hong Kong and China responded by
saying it would impose retaliatory sanctions on the United
States.
Trump also shut the door on "Phase 2" trade negotiations
with Beijing. Also supporting gold prices, the dollar .DXY fell 0.4%
versus a basket of currencies. USD/
"As long as prices remain above the $1,800 level, gold has
the potential to test $1,815 and a fresh multi-year high at
$1,825, respectively," FXTM analyst Lukman Otunuga said in a
note.
"Should $1,800 prove to be unreliable support, the precious
metal may experience a technical correction back towards the
$1,765-$1,780 region before bulls gather fresh momentum."
Reflecting appeal for gold, holdings of the SPDR Gold Trust
GLD exchange-traded fund were near their highest since April
2013. GOL/ETF
Elsewhere, palladium XPD= was steady at $1,959.91 per
ounce, platinum XPT= was 0.9% higher at $833.67 and silver
XAG= gained 0.4% to $19.27.