* SPDR gold holdings at lowest since Oct. 11

* Asian shares slightly above five-week low (Updates prices)

By Arijit Bose

May 7 (Reuters) – Gold prices rose on Tuesday as U.S. President Donald Trump’s threat to hike tariffs on Chinese imports rekindled trade tensions between the two economies and pushed investors to seek insurance in safe-haven assets.

Spot gold was up 0.2 percent at $1,283.41 per ounce, as of 0731 GMT.

U.S. gold futures were up 0.1 percent to $1,284.50 an ounce.

On Sunday, self proclaimed “tariff-man” Trump warned of a tariff hike on Chinese goods, marking a drastic change in stance from the previous week where he lauded progress made between the two countries regarding trade.

Risk sentiment faced a blow from Trump’s