* Positive economic data from U.S., China lift sentiment
* Asian shares hover near 9-month peak
* SPDR gold holdings slip to lowest since early Nov (Updates prices, adds comment)By Sethuraman N RApril 16 (Reuters) - Gold prices fell to a near 3-month lowon Tuesday as positive economic data from major economies stokedrisk appetite, weakening demand for safe-haven bullion. Spot gold was down 0.6percent at $1,279.67 perounce, at 1245 GMT, after touching its lowest since Jan. 24 at$1,277.84.U.S. gold futures fell 0.7 percent to $1,282.60"It's a question of risk sentiment in financial markets.Equities are up, which is putting pressure on gold,traditionally seen as a safe-haven," Julius Baer analyst CarstenMenke said."We've seen positive data out of China lately. That reallysupports the view of an improvement in the Chinese economy aswell as the global economy, in turn supporting risk sentiment." China reported better-than-expected credit and exportfigures last week that allayed concerns regarding the pace ofeconomic growth.Jobs data from the United States last week also assuagedconcerns that the world's largest economy was losing momentum,with the number of Americans filing applications forunemployment benefits dropping to a 49-1/2-year low.Stock markets inched higher as the reassuring Chineseeconomic data helped investors shrug off disappointing bankearnings in the U.S., while volatility in European markets tookanother leg lower. Positive news on U.S.-China trade talks as well as theabsence of any large global geo-political issues have taken some sheen off bullion, analysts said."There are presently no major geopolitical issues in theworld marketplace to rattle the markets and trader and investorattitudes remains generally upbeat," said Jim Wyckoff, senioranalyst with Kitco Metals in a note, adding that gold bulls hadlost their overall near-term technical advantage.Gold prices were trading below key technical support levelsincluding the psychologically significant $1,300 mark, seen asnegative bias, analysts and traders said.
"The yellow metal now sits firmly underneath the 100-daymoving average at $1,289, with the figure now an importantpivot," MKS PAMP Group said in a note.Holdings of SPDR Gold Trust , the world's largestgold-backed exchange-traded fund, on Monday dropped to theirlowest since Nov. 9, 2018. Among other metals, silver dipped 0.6 percent to$14.91 an ounce, having hit $14.81, its lowest since Dec. 26, inthe previous session.Spot platinum gained 0.2 percent to $887.16 per ouncewhile palladium rose 0.2 percent to $1,364. (Reporting by Nallur Sethuraman in Bengaluru; editing by EmeliaSithole-Matarise and Kirsten Donovan)
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