*

US PCE data due later in the day

*

Dollar rises 0.2% against its peers

*

Gold heads for fourth monthly gain

(Adds comments, updates for EMEA morning session)

By Brijesh Patel

April 30 (Reuters) - Gold prices fell for the second

straight session on Wednesday, hurt by a stronger dollar and

signs of de-escalation in U.S.-Chinese trade tensions as

investors looked forward to U.S. economic data due this week.

Spot gold was down 1% at $3,382.78 an ounce as of

0905 GMT. However, bullion was on track to log its fourth

consecutive monthly gain, up 5.1% so far in April.

U.S. gold futures slipped 1.2% to $3,292.30.

"The market is currently experiencing high volatility as the

two-way flows compete. In short, it looks as if gold may be

entering a well-earned period of consolidation," said Ross

Norman, an independent analyst.

The dollar index rose 0.2% against its rivals, making

bullion more expensive for other currency holders.

"Gold prices are lower in more stable conditions as the

market took stock of what appeared to be a de-escalation of the

U.S.-led trade war that has rattled the financial markets in

recent weeks," Frank Watson, market analyst at Kinesis Money,

said in a note.

"That said, gold's reluctance to move much lower can be

taken as a sign that the financial markets are still on edge

amid uncertainty over U.S. trade policies and their ultimate

impact on the wider global economy."

U.S. President Donald Trump signed a pair of orders to

soften the blow of his auto tariffs on Tuesday, while his trade

team touted its first deal with a foreign trading partner.

Bullion, a safeguard against political and financial

turmoil, last soared to a record high of $3,500.05 per ounce on

April 22 as investors sought refuge from global economic

turmoil.

Investors will turn their focus to a series of U.S. economic

data, including U.S. personal consumption expenditures (PCE)

later in the day and the non-farm payrolls report on Friday,

that could shed more light on the Federal Reserve's interest

rate outlook.

Elsewhere, spot silver dipped 1.8% to $32.38 an

ounce, platinum fell 0.9% to $968.15 and palladium

lost 0.7% to $928.32.