PRECIOUS-Gold steady amid uncertainty over US-Iran peace negotiations
June 2 (Reuters) - Gold prices were steady on Tuesday, as investors parsed a partial ceasefire between Hezbollah and Israel and awaited further details on U.S.-Iran negotiations amid growing concerns around inflation and interest rate hikes.
FUNDAMENTALS
* Spot gold XAU= was unchanged at $4,484.49 per ounce, as of 0048 GMT. U.S. gold futures GCcv1 gained 0.2% to $4,514.30.
* Lebanon on Monday announced a partial ceasefire between Hezbollah and Israel, in what would amount to a limited de-escalation of a conflict that has killed thousands of people and inflamed the broader war with Iran.
* Iranian state media said earlier on Monday that Tehran was halting indirect negotiations with the U.S. and might end a ceasefire that has largely held since early April, citing the war in Lebanon.
* U.S. President Donald Trump, meanwhile, said that talks with Iran were ongoing "at a rapid pace."
* Investors are now looking out for U.S. non-farm payroll data and the employment report, both due later in the week, to assess resilience in the labour market amid mounting inflation concerns due to the Middle East conflict.
* Also in focus are remarks from U.S. Federal Reserve policymakers, including Cleveland Fed President Beth Hammack and Fed Governor Michael Barr, to gauge the future monetary policy path.
* SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.3% to 938.03 metric tons on Friday. GOL/ETF
* Spot silver XAG= rose 0.2% to $74.92 per ounce, platinum XPT= gained 0.3% to $1,928.65, while palladium XPD= fell 0.2% to $1,359.25.
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