PRECIOUS-Gold eases as Russia-Ukraine ceasefire optimism curb safe-haven demand

May 20 (Reuters) - Gold prices eased on Tuesday, as a firmer dollar and optimism over a potential ceasefire between Russia and Ukraine dampened investor demand for safe-haven assets.

FUNDAMENTALS

* Spot gold XAU= was down 0.4% at $3,217.50 an ounce, as of 0024 GMT. U.S. gold futures GCcv1 also slipped 0.4% to $3,219.90.

* The dollar .DXY inched higher after touching a more than one-week low in the prior session, making greenback-priced gold less appealing to holders of other currencies. USD/

* U.S. President Donald Trump spoke with President Vladimir Putin on Monday and said Russia and Ukraine will immediately start negotiations toward a ceasefire, but the Kremlin said reaching an agreement would take time and Trump indicated he was not ready to join Europe with fresh sanctions to pressure Moscow.

* Gold, which is considered a safe asset amid geopolitical and economic uncertainties, has hit multiple record highs this year and is up about 23% so far this year.

* U.S. Federal Reserve officials on Monday took on cautiously the ramifications of the latest downgrade of the U.S. government's credit rating and unsettled market conditions as they continued to navigate a very uncertain economic environment.

* Moody's cut the United States' rating to "Aa1" from "Aaa" on Friday, citing rising debt and interest "that are significantly higher than similarly rated sovereigns".

* Several Fed officials are scheduled to speak later in the day, potentially providing further insights into the economy and the central bank's policy path.

* Markets are now pricing in at least 53 basis points of rate cuts this year, with the first reduction expected to begin in October. USDIRPR

* Spot silver XAG= edged 0.1% lower to $32.32 an ounce, platinum XPT= rose 0.3% to $1,000.40 and palladium XPD= lost 0.2% to $972.57.

DATA/EVENTS (GMT)