May 29 (Reuters) - Gold held steady on Wednesday as worries
about the global economic outlook kept investors focused on
safe-haven assets, with no signs of an easing in the Sino-U.S.
trade-war.
FUNDAMENTALS
* Spot gold XAU= was unchanged at $1,279.12 per ounce, as
of 0123 GMT, having fallen from Monday's 1-week peak of
$1,287.32 in the previous session.
* U.S. gold futures GCv1 were up 0.2% at $1,279.70 an
ounce.
* Asian shares stumbled on Wednesday and global bonds
rallied as investors fretted over the outlook for world growth
with trade tensions between Washington and Beijing showing no
signs of abating. MKTS/GLOB
* U.S. President Donald Trump on a Monday news conference
with Japanese Prime Minister Shinzo Abe said he was "not ready
to make a deal with China," which came as a fresh blow to hopes
of a resolution in the trade war between the two largest
economies in the world. * Elsewhere, Italian Deputy Prime Minister Matteo Salvini on
Monday said the European Commission could fine Italy 3 billion
euros for breaking EU debt and deficit rules, casting a shadow
about the future of the European region. * The dollar which was also buoyed overnight by escalating
concerns remained capped on Wednesday due to lower U.S. Treasury
yields. USD/
* Last year, the dollar overtook gold as the preferred
safe-haven when the United States and China were engaged in a
full-blown trade war.
* The Trump administration said on Tuesday that no major
trading partner met its currency manipulation criteria but nine
countries, including China, required close attention as
Washington presses tariffs and negotiations to address trade
deficits. * SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.20% to 737.34
tonnes on Tuesday from 738.81 tonnes on Friday. GOL/ETF
* Authorities from Mexico's Zacatecas state hope to mediate
an agreement to end a two-month blockade at the Penasquito gold
mine between mining firm Newmont Goldcorp Corp NEM.N and
villagers in San Juan de Cedros. * Elsewhere, Sibanye-Stillwater and Lonmin cleared the final
hurdle to forming the world's second-largest platinum producer
as their shareholders approved the South African firm's 226
million pound ($286 million)takeover of its London-listed rival.
AHEAD (GMT)
* 0645 France GDP Detailed QQ Q1
* 0645 France CPI (EU Norm) Prelim YY May
* 0755 Germany Unemployment Change SA May
* 0755 Germany Unemployment Rate SA May