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June 11 (Reuters) – Gold prices stabilized on Tuesday after a sharp decline in the previous session, as new concerns over Sino-US trade disrupted the optimistic market that has followed an agreement between the United States and Mexico.
FUNDAMENTALS
* Spot gold was up 0.1% at US $ 1328.77 to 0137 GMT.
* Gold futures in the US were up 0.3%, to $ 1,333.40 an ounce.
* Gold fell by more than 1% during the previous session to reach a day's low of $ 1,324.50 after markets rallied from the agreement reached between the states And Mexico to avoid a new tariff war at the end of last week.
* US President Donald Trump said Monday that he was ready to impose a new round of punitive tariffs on imports from China if he could not advance in trade talks with Chinese President at a Group of 20 summit to be held later this month.
* Trump has repeatedly said he plans to meet Xi at the June 28-29 summit in Osaka, Japan, although China has not yet confirmed.
* China is open to new trade talks with Washington, but it has nothing to announce about a possible meeting between Chinese and US leaders at this month's G20 summit, the Ministry of Finance said on Monday. Foreign Affairs.
* Trump also warned that if part of the US-Mexico agreement, which must be ratified by Mexican lawmakers, was not approved, "tariffs will be reinstated".
* The dollar was largely stable against other major currencies on Tuesday, but investors' appetite for risk was brought under control after Trump renewed its tariff threats against China.
* Asian stocks posted modest gains on Tuesday after the Trump government halted their tariff plans against Mexico, but new trade threats against China in the US should limit any renewed investor confidence.
* Gold production in Russia in the first four months of 2019 fell from 70.67 tons in the same period last year, from 70.67 tons to 78.29 tons, the ministry said on Monday. Russian Finance.
DATA AHEAD (GMT)
* 8h30 United Kingdom: Unem Chng May (report by Brijesh Patel in Bengaluru, edited by Richard Pullin)
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