PRECIOUS-Gold prices gain on U.S.-China trade deal jitters

* Silver hits near 3-week low, platinum hits 1-week low
* Global stocks lose steam after three-day rally
* Graphic on 2019 asset returns: http://tmsnrt.rs/2jvdmXl

(Updates prices)
By K. Sathya Narayanan
Nov 6 (Reuters) - Gold prices rose on Wednesday, a day after
sliding 2%, as doubts about a U.S.-China trade breakthrough
buoyed demand for the safe-haven metal.
Spot gold XAU= rose 0.5% to $1,490.75 per ounce as of 1:43
p.m. EST (1843 GMT). U.S. gold futures GCv1 settled up 0.6% at
$1,493.10.
In the previous session, bullion touched a three-week low of
$1,479.25 and registered its biggest one-day percentage drop
since late September.
"The fact that China is stepping up and saying, before we
sign anything we are looking for rollbacks in tariffs, which
brings into question whether the previous statement that a phase
one deal could be signed in November has any validity," said
David Meger, director of metals trading at High Ridge Futures.
A meeting between U.S. President Donald Trump and Chinese
President Xi Jinping to sign an interim trade deal could be
delayed until December as discussions continue over the terms
and venue, a senior official of the Trump administration told
Reuters on Wednesday. Earlier in the week, reports said China was pushing Trump to
remove more tariffs imposed in September as part of a "phase
one" trade deal. "If China is going to be unwilling to sign anything without
rollbacks, that once again brings what could be a bone of
contention to the potential for signing the 'phase one' deal."
World stocks retreated from record highs after the report
that the U.S.-China trade deal could be delayed until December.
MKTS/GLOB
There is a slight shift into risk-off assets, such as gold,
as industrial productivity in the U.S. surprisingly fell, while
the dollar index has weakened as well, supporting bullion, said
Phillip Streible, senior commodities strategist at RJO Futures.
Nonfarm productivity fell at a 0.3% annualized rate between
July and September. Analysts had expected productivity growth of
0.9% during the quarter. The dollar index .DXY eased against key rivals, from a
near three-week high touched in the previous session. USD/
"If we see a U.S.-China trade agreement, most likely there
would be a knee jerk reaction in the gold market, which would
sell off," Streible said, adding prices would eventually recover
as it might be difficult to get a complete overhaul of the trade
deal.
The trade war is one of the key reasons for gold, a
safe-haven asset during times of economic and political
uncertainty, jumping about 16% so far this year.
Silver XAG= rose 0.1% to $17.61 per ounce, having touched
its lowest since Oct. 17 earlier.
Platinum XPT= was down 0.1% at $928.21 per ounce. The
metal hit a one-week low of $917. Palladium XPD= gained 0.7%
at $1,790.48.