Aug 12 (Reuters) - Gold prices on Monday hovered around the
$1,500 per ounce level as the U.S.-China trade conflict dragged
on, while fears of a global economic slowdown increased.
FUNDAMENTALS
* Spot gold XAU= was steady at $1,496.99 per ounce as of
0114 GMT.
* U.S. gold futures GCcv1 too were flat at $1,508.50 an
ounce.
* Goldman Sachs on Sunday said recession risks were
increasing due to the Sino-U.S. trade war, and cut its forecast
for fourth-quarter U.S. growth. * On Friday, U.S. President Donald Trump said he was not
ready to make a deal with China and even called a September
round of trade talks into question. * Subsequently, White House trade adviser Peter Navarro said
that the U.S. was still planning to hold another round of trade
talks with Chinese negotiators. * Hedge funds and money managers raised their bullish stance
in COMEX gold in the week to Aug. 6, the U.S. Commodity Futures
Trading Commission (CFTC) said on Friday. * Physical gold demand in Asian hubs last week was quiet due
to surging prices. * The dollar index .DXY , which tracks the greenback
against a basket of six major rivals, was nearly unchanged.
USD/
DATA AHEAD (GMT)
* 1230 Brazil IBC-BR Economic Activity June (approx.
time)