PRECIOUS-Gold prices steady as investors await key US data, tariff updates

April 30 (Reuters) - Gold prices held their ground on Wednesday as investors awaited potential trade developments between the United States and its trading partners and also key U.S. inflation data for clues on the Federal Reserve's policy path.

FUNDAMENTALS

Spot gold XAU= was steady at $3,318.79 an ounce, as of 0027 GMT. U.S. gold futures GCcv1 lost 0.2% to $3,328.50.

U.S. President Donald Trump signed a pair of orders to soften the blow of his auto tariffs on Tuesday with a mix of credits and relief from other levies on materials.

Trump's trade team also touted its first deal with a foreign trading partner, developments that eased investor worries about his erratic trade policies.

Bullion, a safeguard against political and financial turmoil, last soared to a record high of $3,500.05 per ounce on April 22 due to elevated uncertainties.

Meanwhile, U.S. consumer confidence slumped to a nearly five-year low in April as growing concerns over tariffs weighed on the economic outlook.

Market participants will scan economic data including U.S. personal consumption expenditures price index, due later in the day, and non-farm payrolls report on Friday to further gauge the impact of the latest tariffs on Fed's interest rate outlook.

Traders currently see around 97 basis points worth of rate cuts by 2025-end. FEDWATCH

Spot silver XAG= rose 0.1% to $33.00 an ounce, platinum XPT= fell 0.1% to $976.69 and palladium XPD= gained 0.2% to $936.36.

DATA/EVENTS (GMT)

0130 China NBS Manufacturing PMI April

0145 China Caixin Mfg PMI Final April

0500 Japan Leading Indicator Revised February

0530 France GDP Preliminary QQ Q1

0600 UK Nationwide house price mm, yy April

0645 France CPI (EU Norm) Prelim MM,YY April

0645 France CPI Prelim MM, YY NSA April

0645 France Producer Prices YY March

0755 Germany Unemployment Chg, Rate SA April

0800 Germany GDP Flash QQ SA, YY NSA Q1

0900 EU GDP Flash Prelim MM, YY April

1200 Germany HICP, CPI Prelim YY April

1230 US GDP Advance Q1

1400 US Consumption, Adjusted MM March

1400 US Core PCE Price Index MM, YY March

1400 US PCE Price Index MM, YY March