(Reuters) - Gold prices were steady on Thursday, retreating from the near seven-year peak hit in the previous session, as a softening rhetoric by the United States and Iran allayed concerns of a larger military conflict.
** Spot gold
** President Donald Trump said on Wednesday the United States did not necessarily have to respond militarily to Iran's attack on military bases housing U.S. troops in Iraq.
** Iranian Foreign Minister Mohammad Javad Zarif said the strikes "concluded" Tehran's response to the killing of top military commander Qassem Soleimani.
** U.S. private payrolls increased by the most in eight months in December, pointing to sustained labour market strength.
** The World Bank on Wednesday trimmed its global growth forecasts slightly for 2019 and 2020 due to a slower-than-expected recovery in trade and investment despite cooler trade tensions between the United States and China.
** The Perth Mint's gold product sales in December rose to their highest in more than three years, the refiner said on Wednesday, citing higher demand from Germany.
** Holdings of the world's largest gold-backed exchange-traded fund SPDR Gold Trust
** Elsewhere, palladium
(Reporting by Sumita Layek in Bengaluru; editing by Uttaresh.V)
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Updated Date: Jan 09, 2020 07:07:36 IST