Gold was little changed Monday, giving back earlier gains as President Donald Trump and Chinese officials both appeared to play down the recent escalation in trade tensions.
Gold for December delivery on Comex rose $2, or 0.1%, to $1,539.60 an ounce, after finishing Friday at its highest in more than six years. September silver rose 19.7 cents, or 1.1%, to $17.61 an ounce.
Gold was propelled higher on Friday after China announced it was imposing retaliatory tariffs on $75 billion in U.S. imports, drawing an angry response from President Donald Trump, who said he was ordering U.S. companies to look for alternative to China. After markets closed Friday, Trump announced the U.S. would further raise tariffs on imports from China.
But early Monday though, Trump, speaking on the sidelines of the Group of Seven meeting in France, said U.S. officials had received calls from Chinese negotiators and that the two sides would return to the table.
Source : Marketwatch