* Silver moves up from multi-year lows of previous session
* Further gains likely if gold holds above $1,210 - analyst (Updates prices and adds comments)By Sumita LayekBENGALURU, Nov 15 (Reuters) - Gold held steady on Thursdayas opposition within Britain's Conservative Party to a draft EUexit deal hit sterling and lifted the dollar,making bullion less attractive for holders of other currencies.
Spot gold ,, which rose 1 percent in the previoussession, was little changed at $1,211.19 per ounce at 1350 GMT,while U.S. gold futures were up 0.1 percent at $1,211.60per ounce.Some safe haven demand flowed into gold, a traditional storeof value during times of political and economic uncertainty, asstock markets declined. "There hasn't been any big geopolitical crisis... it isstill a relatively mild kind of environment and from this pointof view, you are better off in the U.S. dollar," SP Angelanalyst Sergey Raevskiy said.Just over 12 hours after British Prime Minister Theresa Maysaid that her top ministers had agreed to the draft deal, BrexitMinister Dominic Raab and Work and Pensions Minister EstherMcVey quit, saying they could not support it. "Gold may be seeing some limited safe-haven buying interestfrom this matter. However, the situation is not a seriousgeopolitical factor for the world marketplace," Kitco Metalssenior analyst Jim Wyckoff said in a note.The dollar has emerged as a dominant safe haven asset thisyear, denting appeal for gold, which has fallen 11 percent froman April peak, especially as the U.S.- China trade tussle playedout against a backdrop of rising U.S. interest rates.U.S. consumer prices increased by the most in nine months inOctober amid gains in the cost of gasoline and rents, pointingto steadily rising inflation that will likely keep the FederalReserve on track to raise rates again next month. In the latest developments surrounding the ongoing tradedispute, U.S. President Donald Trump is expected to meet ChinesePresident Xi Jinping at a G20 summit in Argentina this month."If prices manage to remain above $1,210 there will be spacefor further recoveries, while another fall below thepsychological threshold of $1,200 would represent a negativesignal," ActivTrades chief analyst Carlo Alberto De Casa said.Also indicative of improved appetite for gold, holdings ofthe world's largest gold-backed exchange-traded fund, SPDR GoldTrust , remained near their highest level in more than twomonths, while central banks have also been gradually increasingtheir reserves of the metal, analysts said. Among other precious metals, silver was up 0.1percent at $14.14 per ounce. The metal fell to $13.85 in theprevious session, a level last seen on Jan. 21, 2016.Platinum fell 0.7 percent to $828.74 an ounce, whilepalladium was 0.2 percent higher at $1,126.00 per ounce. (Reporting by Sumita Layek and Arpan Varghese in Bengaluru;editing by David Evans and Alexander Smith)
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