Gold prices rose on Monday morning in Asia as investors opted safe-haven asset ahead of Christmas and New Year holidays.
U.S. Gold Futures inched up 0.25% to $1,484.55 by 10:59 PM ET (3:59 AM GMT), recovering from the day before amid a steady dollar. The U.S. dollar index stayed mostly flat at above 97.
U.S. President Donald Trump said on Saturday that the U.S and China would “very shortly sign their so-called Phase One trade pact. Under the deal, the U.S. would agree to reduce some tariffs in exchange for a big jump in Chinese purchases of American farm products, according to Reuters. The market is waiting for further developments that would ease the month-long China-U.S. trade tensions.