Gold falls as US-China tensions ease

Gold prices dropped on Tuesday due to reduced demand for the safe-haven metal amid easing US-China trade tensions, while investors are looking to upcoming US economic data for clues on the Federal Reserve’s policy direction.

As of 12:18 PM GMT, spot gold fell 1.09 per cent to $3,307.82 per ounce, down from Monday’s closing price of $3,344.26. Meanwhile, US gold futures fell 0.93 per cent to $3,316.54 per ounce, compared to the previous close of $3,347.7.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser