PRECIOUS-Gold steady as concern looms over Trump's reciprocal tariff plans

March 26 (Reuters) - Gold prices held steady on Wednesday as market participants squared positions ahead of U.S. President Donald Trump's sweeping reciprocal tariff plans, which they fear will fuel inflation and hinder economic growth.

FUNDAMENTALS

Spot gold XAU= held ground at $3,020.87 an ounce as of 0026 GMT. U.S. gold futures GCcv1 was unchanged at $3,025.10.

U.S. consumer confidence plunged to the lowest in more than four years in March, with households fearing a recession in the future and higher inflation triggered by tariffs.

The spotlight is now on potential reciprocal tariffs that the U.S. administration might adopt on April 2, causing some nervousness in the market.

Trump's tariff policies are likely to be inflationary, potentially slowing economic growth and intensifying trade tensions.

Gold, traditionally seen as a hedge against geopolitical and economic uncertainties, has risen 15% so far this year, scaling an all-time peak of $3,057.21 on March 20.

Several Federal Reserve officials are due to speak later in the day, offering more insights into this year's monetary policy as uncertainty looms over tariffs.

Markets are awaiting the U.S. Personal Consumption Expenditures data on Friday for clues on the Fed's next moves.

On the geopolitical front, the United States on Tuesday reached deals with Ukraine and Russia to pause their attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow.

Spot silver XAG= fell 0.3% to $33.65 an ounce and platinum XPT= eased 0.1% to $975.96. Palladium XPD= was steady at $956.12.

DATA/EVENTS (GMT)

0500 Japan Chain Store Sales YY Feb

0500 Japan Leading Indicator Revised Jan

0700 UK Core CPI YY, CPI YY Feb

0700 UK CPI Services MM, CPI Services YY Feb

1100 France Unemp Class-A SA Feb

1230 US Durable Goods Feb