Aug 20 (Reuters) - Gold prices held steady on Tuesday afterposting their biggest daily decline in a month in the previoussession, plummeting below a key psychological level of $1,500 anounce.
FUNDAMENTALS
* Spot gold edged up 0.1% at $1,496.80 per ounce at0050 GMT.
* On Monday, gold skidded 1.2% to reach $1,495 an ounce,below the key level of $1,500. This marked its biggest dailydecline since July 19.
* U.S. gold futures fell 0.4% to $1,505.90 an ounce.
* Asian stocks got off to a bright start after Wall Streetrallied on Monday, with the S&P 500 gaining 1.21%.
* Market sentiment is likely to remain positive as bondyields are rising globally and the U.S. Treasury yield curve isno longer flashing signs of a recession.
* The focus shifts to U.S. Federal Reserve meeting minutesdue on Wednesday. Traders will also watch the Fed's Jackson Holeseminar and a Group of Seven summit this weekend for clues onwhat additional steps policymakers will take to bolster growth.
* Traders see about an 86% percent chance of a 25basis-point cut in September.
* Senior White House officials are discussing a temporarypayroll tax cut to boost the economy, the Washington Postreported on Monday.
* Hopes for more stimulus are rising after reports thatGermany is prepared to increase fiscal spending, and after theChina's central bank unveiled a key interest rate reform tolower corporate borrowing costs and support a slowing economy.
* The U.S. dollar held near a three-week high on Tuesday, asexpectations of fresh global stimulus, and an improvement inappetite for riskier assets lifted yields on U.S. governmentbonds.
* Refinitiv data shows an Iranian tanker that was detainedin Gibraltar is now on its way to Greece, but the U.S. StateDepartment has warned that any assistance to the vessel could beconsidered as providing support to a U.S.-designated terroristorganisation.(Reporting by Harshith Aranya in Bengaluru; Editing by RashmiAich)