PRECIOUS-Gold steadies on mixed Chinese data, higher equities curb gains

* China GDP in line with consensus, activity data strong
* Platinum hits more than one-week high
* Spot gold looks neutral in $1,404-$1,421 range -
technicals
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl

(Updates prices)
By Karthika Suresh Namboothiri
July 15 (Reuters) - Gold steadied on Monday after data
showed Chinese economic growth slowed to its weakest in about 27
years, while gains in equities curbed demand for bullion as
investors latched onto some positive readings from the world's
second-biggest economy.
China's second-quarter annual GDP growth fell to a 27-year
low of 6.2%, as expected, but its quarterly growth reading of
1.6% beat forecasts. June reports on industrial production,
retail sales and urban investment were above expectations.
Spot gold XAU= was little changed at $1,415.51 per ounce
as of 1123 GMT, reversing some losses ahead of the data. U.S.
gold futures GCcv1 rose 0.4% to $1,417.50.
"Markets expected gold prices to push higher given that
Chinese growth was the slowest in almost 30 years. However, if
you look at the bigger picture, it is still above the 6% level
... Hence we're seeing this mixed reaction with gold," said
Lukman Otunuga, research analyst at FXTM.
China's trading partners and financial markets are closely
watching as the Sino-U.S. trade war gets longer and costlier,
fuelling worries of a global recession.
World shares rose towards an 18-month high following the
data. MKTS/GLOB
"Gold is waiting for a fresh directional catalyst. Today is
a slow start for gold, but that doesn't mean it's going to be a
slow week," Otunuga added.
Investors await other data this week, such as U.S. retail
sales and industrial production, for clues about the health of
the world's largest economy. The U.S. Federal Reserve releases
its "Beige Book" on Wednesday, which markets will watch for
comments on how trade tensions have affected the business
outlook.
Gold gained 1.1% last week on the back of expectations of an
interest rate cut by the U.S. central bank, which also weighed
on the dollar .DXY . USD/
The outlook for gold remains positive, analysts said, with
the metal likely to stay supported on expectations of a Fed rate
cut and concerns of a global growth slowdown.
"The overall growth picture still looks weak. With further
tensions around (U.S.-China) trade talks and geopolitical
concerns in the Middle East, the need for gold as a hedge still
remains strong," said Howie Lee, economist at OCBC Bank.
Spot gold looks neutral in a narrow range of $1,404-$1,421
per ounce, and an escape could suggest a direction, Reuters
technical analyst Wang Tao said. Palladium rose about 1% to $1,558.64 an ounce, while silver
added 0.7% to $15.32. Platinum XPT= gained 1.5% to $839.51,
marking a one-week high.