Gold steadied after a four-day drop as optimism over U.S.-China trade talks boosted risk assets.
China and the U.S. "reached consensus on properly resolving relevant issues" and agreed to stay in contact on the remaining points for a “phase one” trade deal during a phone call Tuesday morning Beijing time, the Ministry of Commerce said in a statement. Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin discussed core concerns on the call.
Stocks across Asia rose on signs of progress and global equities are heading for another month of gains amid hopes that a phase-one trade deal is around the corner.
Spot gold -0.1% to $1,453.84/oz at 10:43am in Singapore after -0.4% last week. Spot silver -0.2% to $16.8555/oz. Platinum little changed at $897.86/oz.
Source : Bloomberg