(Updates for US morning hours)

* US producer prices post biggest gain in four years in

April

* India raises gold and silver tariffs to 15% to curb

imports

* Spot platinum eases after hitting its highest since

March 17

By Ashitha Shivaprasad

May 13 (Reuters) - Gold prices slipped for a second

consecutive session on Wednesday as war-led inflation concerns

weighed on expectations for interest rate cuts, with markets

also watching the upcoming Trump-Xi meeting.

Spot gold was down 0.6% to $4,686.99 per ounce at

09:05 a.m. EDT (1305 GMT). U.S. gold futures gained 0.2%

to $4,694.70.

U.S. producer prices increased more than expected in April,

posting their biggest gain since early 2022, the latest

indication that inflation was accelerating amid the Iran war.

"Inflation remains sticky and so, the expectations for

higher rates for longer was reinforced, and that's been

pressuring gold the last two days," said Peter Grant, vice

president and senior metals strategist at Zaner Metals.

Gold is often viewed as a hedge against inflation, but

higher interest rates tend to pressure the non-yielding metal.

Data on Wednesday showed that U.S. consumer inflation increased

further in April, with the annual rate posting its largest gain

in three years.

The U.S. central bank last month left its benchmark

overnight interest rate in the 3.50% to 3.75% range. Traders

have largely priced out a U.S. rate cut this year, according to

CME Group's FedWatch.

Donald Trump embarks on the first visit by a U.S. president to

China in nearly a decade eager to snag some deals, maintain a

fragile trade truce with the world's second-largest economy, and

prop up public approval ratings bruised by his war with Iran.

Meanwhile, India raised import tariffs on gold and silver to 15%

from 6%, as part of efforts to curb overseas purchases of the

metals and ease pressure on the country's foreign exchange

reserves. India is the world's second-largest consumer of

precious metals.

The news about higher import duties in India has created

some demand concerns and could pose a long-term headwind, Grant

said.

Spot silver fell 0.2% to $86.70 per ounce, after

hitting a two-month high earlier in the session.

Platinum lost 0.3% to $2,120.20, after hitting its

highest level since March 17. Palladium was down 0.4% at

$1,484.10.

(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by

Alexander Smith )