Gold traded little changed on Tuesday as gains in equities on optimism over a reopening global economy offset support from a softer dollar and lingering tensions over Hong Kong and Venezuela.

 

FUNDAMENTALS

* Spot gold was flat at $1,729.83 per ounce by 1253 GMT. U.S. gold futures were down 0.2% to $1,732.10.

* Japan's Nikkei rose 1% to its highest since early March, while MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% in early trade.

* The German economy is starting to recover as curbs to slow the coronavirus are lifted, a business morale survey showed, boosting European sentiment.

* Singapore cut its 2020 GDP outlook for the third time as it braces for the deepest recession in its history.

* The dollar index was down 0.2%, making gold slightly cheaper for holders of other currencies.

* China's foreign ministry office in Hong Kong and the city's security chief defended proposed security laws by describing some acts in mass pro-democracy protests last year as terrorism.

* A second Iranian vessel carrying fuel had entered Venezuelan waters, Refinitiv Eikon data showed - despite a U.S. official's warning that Washington was considering a response to the shipment.

* China became a net exporter of gold via Hong Kong for the first time since at least 2011 in April.

* Palladium gained 0.6% to $2,003.97 per ounce and platinum was up 0.2% at $840.25, while silver fell 0.3% to $17.14.

DATA/EVENTS (GMT) 0645 France Business Climate Mfg May 1300 Russia Unemployment Rate April 1400 U.S. Consumer Confidence May

 

(Reporting by Harshith Aranya in Bengaluru; Editing by Subhranshu Sahu) ((harshith.aranya@thomsonreuters.com; Within U.S. +1 651 848 5832, Outside U.S. +91 80 6182 2599; Reuters Messaging: harshith.aranya.thomsonreuters.com@reuters.net))