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Gold is stable as trade tensions, Iran is concerned about focus



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(Reuters) – Gold stabilized on Monday after four days of fall, when a dispute between China and the United States worsened following the Wawei ban, and President Trump's latest threat to Tehran sparked interest in the bomb shelter. The safe.

Basics

Spot gold rose 0.1% at $ 1,278.06 an ounce at 0137 GMT.

* US gold futures were up 0.2% at $ 1,278 an ounce.

* Gold fell to a two-week low of $ 1,274.51 an ounce on Friday after data released showed that US consumer sentiment jumped to a 15-year high in early May, boosting confidence in the economy's outlook.

US President Donald Trump published the new threat to Tehran on Monday, citing the conflict as Iran's "official end," as Saudi Arabia warned it was ready to respond "with all its might" and that Iran had to prevent it. war.

Google Unleashes Incompetence With China-US trade, Google Alfest Inks has suspended business with Huawei, which requires hardware, software and technical services, except those open to the public through open source licenses, a source close to Reuters said.

* The United States should honestly show whether it will hold meaningful trade talks, China said on Friday after Trump raised the stakes by adding Chinese technology giant Hwai to a black list of trade, while China's state media has adopted a tough line to escalate tensions.

* SPDR Gold Trust, the world's largest gold-backed fund, said its holdings rose 0.4% to 736.17 tons on Friday from 733.23 tons on Thursday.

Hedge funds and CFOs raised their long positions in COMEX gold last week, until May 14, the US Futures Trading Commission (CFTC) said today.

* Asian stocks rose to a steady level on Monday, while government data showed Japan's economy grew at an annual rate of 2.1%, contributing to improved risk sentiment.

* The Australian dollar strengthened against the US dollar on Monday after a surprise election victory by the country's conservative government, while the yen fell slightly on the recovery market sentiment.

* Gold was sold at a discount last week in India for the first time in 2-1 / 2 months as high prices discourage jewelers and retail buyers, while currency fluctuations and economic worries sparked caution among buyers and other Asian hubs.

Reported by Arig Boss in Bangalore; Edit Rich
Poland

Our Devices:Thomas Reuters Principles of Trust.
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