Aug 14 (Reuters) - Gold prices inched up on Wednesday asmarkets eyed ongoing political and trade turbulence, even as aU.S. decision to delay tariffs on some Chinese goods boostedrisk appetite.
FUNDAMENTALS
* Spot gold was up 0.1% at $1,502.03 per ounce at0047 GMT.
* Gold fell as much as 2% in the previous session, beforerecovering to close at a loss of 0.7%.
* U.S. gold futures fell 0.1% to $1,513.10 an ounce.
* On Tuesday, U.S. President Donald Trump backed off hisSept. 1 deadline for 10% tariffs on some Chinese imports,boosting equity markets.
* The dollar index, which tracks the greenbackagainst a basket of six major rivals, versus a basket of sixmajor currencies advanced 0.4% on Tuesday.
* The 10-year U.S. Treasury note climbed 6 basispoints overnight, pushing away from a three-year low touched aweek ago.
* Protests in Hong Kong, uncertainty about Brexit, and thesustained Sino-U.S. trade war still trouble markets.
* Investors are focused on the Federal Reserve's annualsymposium next week. Traders see a 91.2% chance of a 25basis-point rate cut by the Fed this September.
* SPDR Gold Trust, the world's largest gold-backedexchange-traded fund, said its holdings fell 1.31% to 836.66tonnes on Tuesday from 847.77 tonnes on Monday.
DATA AHEAD (GMT)
* 0200 China Urban Investment y-to-d YY July
* 0200 China Industrial Output YY July
* 0200 China Retail Sales YY July
* 0630 India WPI Inflation YY July
* 0830 UK CPI YY July
* 0900 EU GDP Flash Estimate QQ, YY Q2
(Reporting by Harshith Aranya in Bengaluru; editing by RichardPullin)