PRECIOUS-Gold steady as investors focus on US-Iran peace talks

June 23 (Reuters) - Gold prices were steady on Tuesday as investors assessed U.S.-Iran peace talks, while rising expectations of a Federal Reserve interest rate hike in December weighed on the metal.

FUNDAMENTALS

* Spot gold XAU= was steady at $4,191.09 per ounce, as of 0053 GMT. U.S. gold futures GCcv1 for August delivery rose 0.2% to $4,208.40.

* The United States waived sanctions on Iran for 60 days from Monday after the first talks under a nascent peace deal, while officials reported a sustained lull in fighting in Lebanon under the agreement aimed at ending hostilities across the region.

* U.S. Vice President JD Vance said talks with Iranian officials in Switzerland had laid a good foundation for a final peace deal, although Iran denied that it had begun discussions of its nuclear programme.

* Fed Chairman Kevin Warsh will deliver his first testimony on monetary policy before Congress on July 14, according to a hearing notice published by the House Financial Services Committee.

* Chicago Fed President Austan Goolsbee said that with the labour market stable, he is focused on figuring out whether too-high inflation will stay that way or if it will recede as the effect of high tariffs fades and if the conflict in the Middle East gets resolved.

* Traders now see an 89% chance of an interest rate hike in December, up from 61% before the Fed meeting last week, according to the CME FedWatch Tool. FEDWATCH/

* Gold speculators raised net long positions by 9,258 contracts to 112,918 in the week to June 16. CFTC/

* Spot silver XAG= fell 0.4% to $64.92 per ounce, platinum XPT= lost 0.4% to $1,672.90, while palladium XPD= was up 0.1% at $1,266.35.

(Reporting by Pablo Sinha in Bengaluru; Editing by Subhranshu Sahu)

((Pablo.Sinha@thomsonreuters.com;))