PRECIOUS-Gold flat as markets eye trade talk cues, Brexit deal

* Investors await gold pull back to step in -analyst
* Japan, South Korea see weak exports in midst of trade spat

(Updates prices)
By Karthika Suresh Namboothiri
Oct 21 (Reuters) - Gold prices were little changed on Monday
as investors waited for more clarity on U.S.-China trade
negotiations, and Brexit after British parliamentarians delayed
a crucial vote on the divorce deal.
Spot gold XAU= was flat at $1,490.23 per ounce as of 0720
GMT. U.S. gold futures GCcv1 dipped slightly to $1,493.40.
Asian shares edged higher, limiting bullion's gains, with
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS up 0.3%. MKTS/GLOB
"The markets are quite long, and people are worried about
the trade war. Investors are waiting for pull backs in gold to
step in again," AxiTrader market strategist Stephen Innes said.
"What has been supportive for gold are recessionary fears,
and provided that remains in the headlines, it is a significant
reason to stay long gold. Right now, there is no major catalyst
to drive it any direction."
The long-standing Sino-U.S. trade war has taken a toll on
economies around the world with Japan's exports down for a 10th
straight month, South Korean exports plunging 19.5% in October,
and Thai exports missing expectations.
In China, new home prices grew at a steady pace in
September, a relief for policymakers who remain wary of high
debt and bubble risk, and are refraining from stimulating the
sector as the economy cools. Providing little comfort to market sentiment, British
Lawmakers on Saturday voted to withhold a decision on Prime
Minister Boris Johnson's deal, a move that forced him to seek
from the EU a third postponement of Britain's departure from the
bloc. The vote for an extension dealt a blow to optimism that a
deal agreed last week would ensure Brexit happens with little
economic disruption.
Spot gold looks neutral in a range of $1,479-$1,502 per
ounce, and an escape could suggest a direction, Reuters
technical analyst Wang Tao said. Among other precious metals, silver XAG= rose 0.9% to
$17.70 per ounce, and platinum XPT= rose 0.4% to $892.84.
Meanwhile, palladium XPD= gained 0.6% to $1,765.81 an
ounce, slightly lower than a high of $1,783.21 it struck on
Thursday.
"Sell rates for palladium reached the highest level since
January. This suggests the recent rally has been driven by
fundamentals, rather than speculative interest," ANZ Bank said
in a note.
"And with the market likely to remain tight for the
foreseeable future, we believe there is plenty more upside for
(palladium)prices."