Dec 9 (Reuters) - Gold prices crept higher on Monday after
Washington reiterated its stance on a deadline for a new round
of U.S. tariffs on Chinese goods this weekend, supporting demand
for safe havens.
FUNDAMENTALS
* Spot gold XAU= was up 0.1% at $1,460.40 per ounce, as of
0158 GMT, after having slid 1% in the previous session, its
biggest one-day drop in a month.
* U.S. gold futures GCcv1 were flat at $1,464.90.
* White House economic adviser Larry Kudlow said on Friday
that the Dec. 15 deadline is still in place for a new round of
U.S. tariffs on Chinese goods set to kick-in, but U.S. President
Donald Trump likes where trade talks with China are going.
* Cautious sentiment supported bullion, often seen as an
alternative investment during times of political and financial
uncertainty.
* Completion of a "phase-one" deal between the world's two
biggest economies had been initially expected in November, ahead
of the new round of U.S. tariffs in mid-December, covering about
$156 billion of Chinese imports.
* Gold prices dropped 1% on Friday after data showed that
U.S. job growth had increased by the most in 10 months in
November, the strongest sign yet the economy is in no danger of
stalling. * China's exports in November shrank for the fourth
consecutive month but imports rose, while its foreign exchange
reserves fell $9 billion in November to $3.096 trillion.
* China on Friday confirmed that it will waive import
tariffs for some soybeans and pork shipments from the United
States. * Adding to the cautious mood, Trump said on Sunday that
North Korean leader Kim Jong Un risks losing "everything" if he
resumes hostility and his country must denuclearize, after the
North said it had carried out a "successful test of great
significance." * Investor focus will also be on U.S. Federal Reserve's
outlook for next year and beyond on future interest rate cuts.
* Speculators upped their bullish positions in COMEX gold in
the week to Dec. 3, data showed. * Holdings of the world's largest gold-backed
exchange-traded fund SPDR Gold Trust GLD , fell 0.26% to 886.23
tonnes on Friday. * Demand for physical gold was moderate in India last week
due to lower than usual wedding season buying, while top
consumer China saw increased activity as wholesalers cleared out
inventories into the year-end. * Palladium XPD= shed 0.2% to $1,873.74 per ounce, having
hit a record peak at $1,880.65 in the previous session.
* Silver XAG= was up 0.1% at $16.58 per ounce, after
touching its lowest since early August in the last session,
while platinum XPT= eased 0.4% to $892.30.
DATA/EVENTS (GMT)
0700 Germany Exports, Imports MM SA Oct
0700 Germany Trade Balance, EUR, SA Oct
0930 EU Sentix Index Dec