May 12 (Reuters) - Gold prices were steady in early Asian trade on Tuesday after two straight sessions of falls, as a stronger dollar countered fears of a new wave of coronavirus infections in many countries. FUNDAMENTALS * Spot gold was unchanged at $1,695.75 per ounce by 0038 GMT. U.S. gold futures eased 0.2% to $1,695.40. * Against key rivals, the dollar rose to a more than two-week high, making gold costlier for investors holding other currencies. * Asian equities were set to slip amid growing investor worries about a second wave of virus infections after the Chinese city, where the pandemic originated, reported its first new cases since its lockdown was lifted. * Wuhan, the epicentre of the outbreak in China, reported its first cluster of virus infections since a lockdown on the city was lifted a month ago, stoking concerns of a wider resurgence. * Factory workers began returning to assembly lines in Michigan on Monday, paving the way to reopen the U.S. auto sector but stoking fears of a second wave of coronavirus infections as strict lockdowns are eased across the country. * U.S. Federal Reserve policymakers say they will do what it takes to cushion an economy crushed by the widespread lockdowns, but there's one thing they probably won't do: take interest rates below zero. * In a month when Americans in most states were being asked to stay home because of the pandemic, U.S. consumers became more fearful about losing their jobs and more pessimistic about their ability to access credit or pay their bills, according to a New York Federal Reserve survey. * U.S. President Donald Trump said he opposed renegotiating the U.S.-China "Phase 1" trade deal after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement. * Japan could lift a state-of-emergency in many regions this week if new coronavirus infections are under control, the economy minister said, as the country inches toward a gradual return of economic activity. * SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.05% to 1,081.07 tonnes on Monday. * Palladium slipped 0.4% to $1,887.51 per ounce and silver fell 1.2% to $15.36, while platinum climbed 0.3% to $758.98. DATA/EVENTS (GMT) 1230 U.S. CPI MM, SA April (Reporting by K. Sathya Narayanan in Bengaluru; Editing by Subhranshu Sahu)
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