Dec 9 (Reuters) - Gold prices crept higher on Monday after Washington reiterated its stance on a deadline for a new round of U.S. tariffs on Chinese goods this weekend, supporting demand for safe havens.
FUNDAMENTALS
* Spot gold XAU= was up 0.1% at $1,460.40 per ounce, as of 0158 GMT, after having slid 1% in the previous session, its biggest one-day drop in a month.
* U.S. gold futures GCcv1 were flat at $1,464.90.
* White House economic adviser Larry Kudlow said on Friday that the Dec. 15 deadline is still in place for a new round of U.S. tariffs on Chinese goods set to kick-in, but U.S. President Donald Trump likes where trade talks with China are going. Cautious sentiment supported bullion, often seen as an alternative investment during times of political and financial uncertainty.
* Completion of a "phase-one" deal between the world's two biggest economies had been initially expected in November, ahead of the new round of U.S. tariffs in mid-December, covering about $156 billion of Chinese imports.
* Gold prices dropped 1% on Friday after data showed that U.S. job growth had increased by the most in 10 months in November, the strongest sign yet the economy is in no danger of stalling. China's exports in November shrank for the fourth consecutive month but imports rose, while its foreign exchange reserves fell $9 billion in November to $3.096 trillion. China on Friday confirmed that it will waive import tariffs for some soybeans and pork shipments from the United States. Adding to the cautious mood, Trump said on Sunday that North Korean leader Kim Jong Un risks losing "everything" if he resumes hostility and his country must denuclearize, after the North said it had carried out a "successful test of great significance." Investor focus will also be on U.S. Federal Reserve's outlook for next year and beyond on future interest rate cuts. Speculators upped their bullish positions in COMEX gold in the week to Dec. 3, data showed. Holdings of the world's largest gold-backed exchange-traded fund SPDR Gold Trust GLD , fell 0.26% to 886.23 tonnes on Friday. Demand for physical gold was moderate in India last week due to lower than usual wedding season buying, while top consumer China saw increased activity as wholesalers cleared out inventories into the year-end. Palladium XPD= shed 0.2% to $1,873.74 per ounce, having hit a record peak at $1,880.65 in the previous session.
* Silver XAG= was up 0.1% at $16.58 per ounce, after touching its lowest since early August in the last session, while platinum XPT= eased 0.4% to $892.30.
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