March 6, 2018 / 1:40 AM / 3 months ago

REFILE-PRECIOUS-Gold prices gain on softer dollar

 (Corrects day in paragraph 1 to Tuesday)
    March 6 (Reuters) - Gold prices edged up early on Tuesday on
a softer dollar, amid worries about a global trade war even as
U.S. President Donald Trump faced pressure from political and
trade allies over his plan for steel and aluminum tariffs.
                   
    FUNDAMENTALS  
    * Spot gold        was trading up 0.2 percent at $1,322.88
per ounce at 0117 GMT.
    * U.S. gold futures         for April delivery rose 0.3
percent to $1,323.70 per ounce.
    * The dollar index       , which measures the greenback
against a basket of major currencies, was down 0.2 percent at
89.891. 
    * Asian shares regained some ground on Tuesday after U.S.
President Donald Trump faced growing pressure from political
allies to pull back from proposed steel and aluminium tariffs,
easing investor worries about an imminent trade war.
                       
    * Mexican and U.S. officials pushed on Monday to speed up
NAFTA negotiations, with the United States floating the idea of
reaching an agreement "in principle" in coming weeks to avoid
political headwinds later this year.             
    * Chancellor Angela Merkel said on Monday she would work
with France to tackle pressing issues such as trade policy, the
war in Syria and competition with China after the Social
Democrats (SPD) approved joining a coalition with her
conservatives.             
    * Two anti-establishment leaders made early plays to govern
Italy on Monday, triggering concern in the euro zone following
an inconclusive election where voters shunted mainstream parties
to the sidelines.             
    * The uncertainty surrounding Italy's election vote has no
immediate impact on the country's sovereign credit rating,
ratings firms S&P Global and DBRS said on Monday.             
    * China aims to expand its economy by around 6.5 percent
this year, the same as in 2017, while pressing ahead with its
campaign to reduce risks in the financial system, Premier Li
Keqiang said Monday.             

 (Reporting by Eileen Soreng in Bengaluru; editing by Richard
Pullin)
  
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