May 19 (Reuters) - Gold held steady on Tuesday as the
dollar weakened and crude oil prices fell after U.S. President
Donald Trump paused a planned attack against Iran, easing
concerns about inflation and prolonged high interest rates.
FUNDAMENTALS
* Spot gold was steady at $4,565.40 per ounce, as of
0103 GMT, after hitting its lowest level since March 30 in the
previous session.
* U.S. gold futures for June delivery gained 0.2% to
$4,567.90.
* The dollar fell, making greenback-priced bullion more
affordable for holders of other currencies.
* U.S. President Donald 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% in early Asian trade on hopes
of negotiations to end the war in the Middle East.
* Elevated crude oil prices can stoke inflation, and while
gold is considered a hedge against inflation, higher interest
rates tend to weigh on the non-yielding metal.
* Kevin Warsh will be sworn in as U.S. Federal Reserve chief
on Friday by President 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.
* Ghana has asked large-scale gold miners to sell 30% of
annual output to the central bank as part of a revamped
reserve-building drive, up from 20%, a senior official told
Reuters.
* Spot silver fell 0.3% to $77.58 per ounce, platinum
lost 0.2% to $1,976.15, and palladium dropped 0.6%
to $1,409.75.
DATA/EVENTS (GMT)
0200 UK Claimant Count Unem Chng Apr
0200 UK ILO Unemployment Rate Mar
0200 UK HMRC Payrolls Change Apr
0500 EU Total Trade Balance SA Mar
(Reporting by Pablo Sinha in Bengaluru; Editing by Subhranshu
Sahu)