* China's industrial production growth slows sharply in Oct
* Permanent truce in trade war unlikely over the coming year -poll
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl
By Asha Sistla and K. Sathya Narayanan
Nov 14 (Reuters) - Gold prices rose on Thursday as investors remained concerned about the imminence of a trade deal between the United States and China, while a slip in riskier assets and the U.S. currency further supported the metal.
Spot gold XAU= rose 0.7% to $1,472.66 per ounce as of 02:05 p.m. EST (1905 GMT). U.S. gold futures GCcv1 settled up 0.7% at $1,473.40 per ounce.
"There were some concerns about the 'phase one' agreement as there seemed to be some sticking points on agricultural products. As a result we did see a little new wave of buying (in gold)," said David Meger, director of metals trading at High Ridge Futures.
The trade negotiations have hit a snag over farm purchases, with China not wanting a deal that looks one-sided in the favor of the United States, the Wall Street Journal reported on Wednesday. polled by Reuters said the United States and China were unlikely to reach a permanent truce over the coming year, and while concerns have eased over a U.S. recession, an economic rebound is also not expected any time soon. dollar being a bit weaker against major currencies along with the equity markets turning off from recent highs, both of those are additional, auxiliary, factors as to why gold and silver are higher," Meger added.
Equities worldwide, Treasury yields and the U.S. dollar fell because of an assortment of weak economic data from around the globe, which added to worries regarding the slowdown in the global economy. MKTS/GLOB USD/ US/
China's factory output growth slowed more than expected in October, and Japan's economy ground to a near standstill in the third quarter as a result of the trade war and softer global demand, while Germany narrowly avoided slipping into recession in the third quarter. should be in greater demand at least in the short term because the negotiations of a partial agreement in the trade dispute between the U.S and China appear to have stalled," Commerzbank (DE:CBKG) analyst Daniel Briesemann said in a note.
The trade war and dovish global central banks have pushed gold prices more than 14% higher so far this year.
Meanwhile, Federal Reserve Chair Jerome Powell on Wednesday said that the impact of three rate cuts this year is still to be fully felt and no further cuts will occur unless there is a "material" change in the economic outlook. have read that to mean interest rates, to which gold is highly sensitive to, may be on hold until late next year.
Among other precious metals, palladium XPD= gained 1.6% to $1,736.69 per ounce. Silver XAG= rose 0.6% to $17.05 per ounce, while platinum XPT= was up 0.9% at $881.34 per ounce.