(Adds comment, updates prices)

* Trump pauses planned attack on Iran

* Kevin Warsh to be sworn in as Fed chair on Friday

* Fed April policy meeting minutes due on Wednesday

By Pablo Sinha

May 19 (Reuters) - Gold prices fell on Tuesday, but

stayed above a 1-1/2-month low hit in the last session, as

markets consolidated while awaiting further developments after

U.S. President Donald Trump paused a planned attack against

Iran.

Spot gold fell 0.5% to $4,543.49 per ounce by 0540 GMT,

but above $4,479.54, the lowest level since March 30 hit on

Monday.

U.S. gold futures for June delivery lost 0.2% to

$4,546.90.

Gold prices fell 2.4% on Friday in their biggest one-day fall

since March 26 and extended losses on Monday as mounting

inflation fears triggered a rout in the global bond market.

Bullion recovered to close Monday slightly higher.

"It seems like an oscillation in this kind of inflation fear

trade and a sort of digestion of the fireworks from Friday,"

said Ilya Spivak, head of global macro at Tastylive, adding that

markets are now awaiting broad sentiment markers such as the

minutes of April's FOMC meeting to be released on Wednesday.

Bonds steadied following a steep selloff after Trump said on

Monday he had paused a planned attack against Iran to allow for

negotiations to take place on a deal to end the U.S.-Israeli

war, after Iran sent a new peace proposal to Washington.

Oil prices fell more than 2%, easing some inflation fears.

Gold is considered a hedge against inflation, though higher

interest rates tend to weigh on the non-yielding metal.

Kevin Warsh will be sworn in as Fed chief on Friday by Trump, a

White House official said on Monday, putting the financier at

the helm of the central bank as it grapples with intensifying

inflation that may make it hard to push through the

interest-rate cuts Trump desires.

Spot silver fell 2% to $76.09 per ounce, platinum

lost 0.7% to $1,965.40, and palladium dropped 1.5%

to $11,397.50.