PRECIOUS-Gold dips to 1-week low as equities gain, slowdown fears ease

Dice with pencil on graph paper

* Gold may revisit its April 4 low of $1,280.59 - analyst

* Asian shares near 9-month high

* Gold specs raise net longs in week to April 9 - CFTC (Adds details, updates prices)

April 15 (Reuters) - Gold prices fell to a more thanone-week low on Monday as solid Chinese data boosted equitiesand allayed concerns about a global economic slowdown.

Spot gold XAU= edged 0.1 percent lower to $1,288.83 perounce as of 0550 GMT, having touched $1,286.44, its lowest sinceApril 5, earlier in the session. U.S. gold futures GCcv1 fell0.3 percent to $1,291.60 an ounce.

"Gold prices have fallen because of improving macro-economicdata which is favouring risk-taking," said Margaret Yang, amarket analyst with CMC Markets, Singapore.

Among factors weighing on gold prices are better-than-expected credit and export growth figures from China, a positivekick-off to the earnings season in the United States and hopesof a U.S.-China trade-spat resolution, Yang added.

Asian shares neared nine-month highs after U.S. TreasurySecretary Steven Mnuchin said he hoped U.S.-China trade talkswere approaching a final lap and amid strong Chinese exportdata. MKTS/*:nL1N21V0AG

Gold, which is usually considered a hedge against economicand political uncertainty, suffers along with the Japanese yenwhen risk sentiment revives.

The yen hovered near its lowest level this year on moresigns of stabilisation in the Chinese economy. FRX/

Chinese customs data showed on Friday that exports for thecountry rose 14.2 percent from the previous year in March, thestrongest growth in five months.

The yellow metal may revisit its April 4 low of $1,280.59per ounce, according to Reuters technical analyst Wang Tao. TECH/C

A stronger U.S. economic picture of late has also dampenedthe appeal of the non-yielding metal with upbeat U.S. reports onFriday showing import prices surpassed expectations and consumersentiment seen stabilizing.

"The U.S. Federal Reserve hit the brakes hard in firstquarter but as data has improved rate cut chances are lower,"Alfonso Esparza, senior market analyst at OANDA, said in a note.

"If retail sales (due later this week) outperform it wouldstart building a case for an interest rate lift later this yeardespite the Fed's dovish turn in January."

However, officials in the joint communique of theInternational Monetary Fund's steering committee said globaleconomy was still not out of the woods with trade disputes andtighter financial conditions still remaining top threats to thepace of global growth.

Speculators increased their bullish wagers in COMEX gold inthe week to April 9, the U.S. Commodity Futures TradingCommission (CFTC) said on Friday. CFTC/

Among other precious metals, silver XAG= was 0.1 percentlower at $14.93 an ounce.

Spot platinum XPT= gained 0.3 percent to $888.65 perounce, while palladium XPD= eased 0.1 percent to $1,369.85 perounce. (Reporting by Arijit Bose in Bengaluru; Editing by ShreejaySinha) ((; Within U.S. +1 651 848 5832,Outside U.S. +91 8067495254; Reuters

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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