Aug 30 (Reuters) - Gold prices dipped on Friday as the
United States and China indicated they may resume talks to
resolve their protracted trade conflict, putting the metal on
track for a small weekly loss despite a strong month.
FUNDAMENTALS
* Spot gold XAU= fell 0.2% to $1,525.06 per ounce, as of
0112 GMT.
* For the month, bullion is set to rise 7.9%. However, for
the week, it's headed for a mild loss of 0.1%, following four
weeks of gains.
* U.S. gold futures GCv1 were also down 0.2% at $1,534.50
an ounce.
* China's commerce ministry said on Thursday Beijing and
Washington were discussing the next round of face-to-face talks
scheduled for September, but added it was important for
Washington to cancel a tariff increase.
* U.S. President Donald Trump also said some discussions
were taking place on Thursday, ahead of a looming deadline for
additional U.S. tariffs on Sept. 1.
* Wall Street and Asian stock markets rose in response to
the potential softening in the Sino-U.S. trade war. MKTS/GLOB
* The Trump administration on Wednesday made official its
extra 5% tariff on $300 billion in Chinese imports and set
collection dates of Sept. 1 and Dec. 15. * The dollar index =USD , which measures the greenback
against a basket of six major currencies, touched a peak last
hit on Aug. 1. USD/
* Christine Lagarde, the European Central Bank's next
president, said on Thursday the bank still has room to cut
interest rates if needed, although this may pose financial
stability risk. * Markets are fully priced in for a quarter-point cut in
interest rates by the U.S. Fed next month, and over 100 basis
points of easing by the end of next year. FEDWATCH
* Data on Thursday showed that German inflation slowed in
August and unemployment rose, cementing expectations of a new
ECB stimulus package next month. * Investors are also focused on a string of economic
releases due over the weekend including China's official
manufacturing survey which would provide a good gauge of the
real impact from the Sino-U.S. trade war. MKTS/GLOB
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.2% to 880.36
tonnes on Thursday from Wednesday. GOL/ETF
* U.S. Treasury yields rose overnight with the benchmark
10-year Treasury climbing up from a three-year low touched
earlier this week. US/
DATA AHEAD (GMT)
0600 UK Nationwide house price y/y
0645 France CPI (EU Norm) Prelim y/y
0900 Euro zone Unemployment Rate
1200 India GDP Quarterly y/y
1230 US Consumption, adjusted m/m