Gold prices dropped on Wednesday in Asia as the U.S.'s decision to delay imposing tariffs on certain Chinese goods eased tension between the two sides and dented demand for the safe-haven metal.

Gold futures for December delivery traded on the Comex division of the New York Mercantile Exchange fell 0.4% to $1,507.95.

The United States Trade Representative announced overnight that certain products including clothing and cellphones have been removed from the tariff list based on "health, safety, national security and other factors” and will not face additional tariffs of 10%.

Other tariffs will be delayed to Dec. 15 from Sep. 1 for certain goods, it said.

Source : Investing.com