BENGALURU, Sept 4 (Reuters) - Gold inched down on Tuesday asthe dollar remained firm near a one-week high on the back ofintensifying global trade tensions, but analysts said growingemerging market worries could benefit the metal.
FUNDAMENTALS
* Spot gold was down 0.1 percent at $1,199.40 anounce at 0049 GMT.
* U.S. gold futures were down 0.1 percent at $1,206 anounce.
* Markets are nervous about the escalating trade conflictbetween the United States and China, after U.S. President DonaldTrump said last week that he wanted to move ahead on a plan toimpose tariffs on Chinese imports worth $200 billion.
* Trump said on Saturday there was no need to keep Canada inthe North American Free Trade Agreement and warned Congress notto meddle with the trade negotiations.
* Growing turbulence in Argentina once again focused globalattention on emerging markets. On Monday, Argentine PresidentMauricio Macri announced new taxes on exports and steep cuts togovernment spending in what he termed "emergency" measures tobalance next year's budget.
* Turkey's central bank signalled on Monday it would takesteps to combat "significant risks" to price stability, commentsseen as hinting at interest rate hikes.
* Gold prices have fallen about 8 percent so far this yearamid rising U.S. interest rates, international trade disputesand the Turkish currency crisis, with investors preferring thedollar as a safe-haven.
*The dollar consolidated near a one-week high against abasket of currencies on Monday as tensions around global tradeand a continued selloff in emerging markets fuelled demand forthe greenback.
* The dollar index , which measures the greenbackagainst a basket of currencies, was steady at 95.182
* Hedge funds and money managers cut their net shortpositions in COMEX gold contracts in the week to Aug. 28 for thefirst time in more than a month, U.S. Commodity Futures TradingCommission (CFTC) data showed on Friday.
* South Africa's Public Investment Corp (PIC) said it willsupport a takeover of platinum producer Lonmin , by precious metals producer Sibanye-Stillwater .
* Sales of gold products by the Perth Mint in August rosefrom a month earlier to their highest since October 2017, aslower bullion prices attracted buying, the mint said on Monday.
* The historic run-up in world shares will continue through2019, but the outlook for almost half of the major boursespolled by Reuters has slipped, with many now only expected torecoup losses from this year's sell-off. (Reporting by Nallur Sethuraman in Bengaluru; editing byRichard Pullin)