March 6 (Reuters) - Gold prices were little changed on Thursday, as investors awaited U.S. non-farm payrolls data to assess the Federal Reserve's interest rate trajectory amid growing trade tensions between the U.S. and its trading partners.
FUNDAMENTALS
* Spot gold XAU= was steady at $2,917.90 an ounce as of 0021 GMT, while U.S. gold futures GCcv1 edged up 0.1% to $2,927.40.
* U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for a month as long as they comply with an existing free trade agreement, the White House said on Wednesday.
* Trump's tariffs have strained relations with Canada, Mexico, and China. Canada and China have hit back with tariffs of their own on selected U.S. imports, while Mexico has vowed to retaliate as well.
* Worries over Trump's tariff policies have pushed safe-haven gold to hit a record high at $2,956.15 on February 24.
* U.S. services sector growth unexpectedly picked up in February and prices for inputs increased, which combined with a recent surge in the cost of raw materials at factories suggested that inflation could heat up in the months ahead.
* Gold is seen as a hedge against political risks and inflation but higher interest rates dampen the non-yielding asset's appeal.
* The market now awaits non-farm payrolls report on Friday for more cues on the Fed's policy path.
* Spot silver XAG= eased 0.1% to $32.60 an ounce, platinum XPT= rose 0.2% to $967.80 and palladium XPD= slipped 0.2% to $941.00.
DATA/EVENTS (GMT)
0930 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT Feb
1315 EU ECB Refinancing Rate, ECB Deposit Rate Mar
1330 US International Trade $ Jan
1330 US Initial Jobless Clm 1 Mar, w/e
1530 US EIA-Nat Gas Chg Bcf, Nat Gas-EIA Implied Flow 28 Feb, w/e
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