09.12.201909:41:00UTC+00Gold Edges Up On Trade Uncertainty, Weak China Data

Gold prices inched up on Monday as weak exports data from China and lingering U.S.-China trade worries weighed on investors' appetite for risk.

The U.S. dollar held firm after data showed surprise strength in the U.S. jobs market.

The British pound hit a seven-month high against the dollar and a 2-1/2 year peak versus the euro, as investors awaited key developments this week, including the Federal Reserve's latest interest rate decision, new ECB boss Christine Lagarde's first policy meeting and the U.K. general election for directional cues.

Spot gold edged up 0.25 percent to $1,462.80 per ounce, while U.S. gold futures were up 0.15 percent at $1,467.45.

Investors fretted about an escalation in the U.S.-China trade war after top White House economic adviser Larry Kudlow said that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods.

Weak exports data from China underscored persistent pressures on manufacturers from the prolonged Sino-U.S. trade war.

China's exports shrank for the fourth consecutive month in November, although imports came in better than expected, suggesting that Beijing's stimulus efforts are working.