PRECIOUS-Gold climbs as investors await concrete signals on trade, Brexit

(Adds details and comments; updates prices)
* Palladium holds near all-time peak; set for fourth
straight gain
* Gold eyes small weekly decline

By Arpan Varghese
Oct 11 (Reuters) - Gold prices climbed on Friday, settling
into a narrow range, as investors awaited more clarity on global
uncertainties including trade and Brexit, helping the metal
shake off initial declines driven by hopes for a breakthrough in
the U.S.-China talks.
Palladium, meanwhile, gained 0.2% to $1,703.44 an ounce as
of 0638 GMT and held close to Thursday's all-time peak of
$1,704.59, putting it on track for an about 2% weekly gain.
The autocatalyst metal was also set to climb for a fourth
straight session.
Spot gold XAU= inched 0.3% higher to $1,499.15 per ounce,
but slipped about 0.3% in the week. U.S. gold futures GCcv1
rose 0.1% to $1,502.30.
"We have news that is positive in terms of trade talks, but
no actual resolution yet. The market is still a little
sceptical," said Brian Lan, managing director at dealer
GoldSilver Central in Singapore.
"A few things are still hanging, including a no-deal Brexit.
Time is ticking but not much progress is happening. The
(situation in) Hong Kong is also not resolved."
Equity markets gained after U.S. President Donald Trump said
he would meet with China's top trade negotiator, while a White
House official said the first day of talks had gone "probably
better than expected." MKTS/GLOB
While the two sides could reach some sort of agreements on
aspects such as currencies and copyright protections, they were
not expected to address the most contentious issues.
The dollar, which has emerged as an alternative safe-haven
during the trade war, was a shade weaker versus its rivals
.DXY , helping drive gold prices higher. USD/
With just three weeks to go before the UK is due to leave
the European Union, lack of clarity on the terms or indeed
whether it will leave at all also kept investors on the edge.
Adding to the global uncertainty was the attack on an
Iranian-owned oil tanker on Friday. The vessel was struck by two
missiles off the Saudi port of Jeddah, Iranian state television
reported. Investors will also keep a close eye on any cues from the
U.S. Federal Reserve, with data on Thursday showing U.S.
consumer prices were unchanged in September while underlying
inflation retreated, supporting expectations the central bank
will cut interest rates in October. "Prices are on the downside, going away from core
fundamentals and reacting to sentiments. When markets move
sentimentally, you can expect a wild swing in prices," said
Vandana Bharti, assistant vice-president of commodity research
at SMC Comtrade.
Gold will be find support around $1,480 in the short term
and face resistance at $1,540, she added.
In other metals, platinum XPT= rose 0.4% to $903.24 an
ounce, while silver XAG= rose 1% to $17.66.