PRECIOUS-Gold steady as US-China trade uncertainty offsets strong US jobs data

June 4 (Reuters) - Gold prices held steady on Wednesday as the uncertainty over U.S.-China trade relations offset the impact of strong U.S. jobs data that boosted risk appetite.

FUNDAMENTALS

Spot gold XAU= was steady at $3,354.51 an ounce as of 0108 GMT. U.S. gold futures GCcv1 were also steady at $3,378.20.

The U.S. should create the necessary conditions for bilateral relations to get back onto "the right track," China's Foreign Minister Wang Yi told the U.S. ambassador to Beijing on Tuesday.

Meanwhile, the White House signaled that President Donald Trump and Chinese President Xi Jinping might engage in talks later this week to address the trade disagreements.

The U.S. dollar index .DXY fell 0.1%, making greenback-priced bullion less expensive for overseas buyers.

Economic data showed U.S. job openings rose in April, though layoffs surged to their highest level in nine months, hinting at softening labor market conditions.

Investors are now focused on the May employment report due on Friday.

Federal Reserve officials reiterated their cautious policy stance on Tuesday, citing the risks posed by ongoing trade tensions and economic uncertainty.

Meanwhile, the Organisation for Economic Cooperation and Development said on Tuesday that global economic growth is slowing more sharply than was anticipated a few months ago, as the fallout from the Trump administration's trade war takes a heavier toll on the U.S. economy.

In trade developments, the U.S. announced it would forgo doubling steel and aluminum tariffs on Britain.

Elsewhere, spot silver XAG= rose 0.1% to $34.51 an ounce, platinum XPT= was down 0.1% to $1,072.86 and palladium XPD= shed 0.1% to $1,009.55.