Gold prices edged down on Monday as optimism grew about U.S.-China trade ties following a report of “constructive talks” over the weekend, while losses were capped by a softer dollar.
Spot gold was down about 0.3% to $1,463.40 per ounce at 0732 GMT, while U.S. gold futures were 0.4% lower at $1,462.90.
Chinese state media Xinhua reported Washington and Beijing had a high-level phone call on Saturday and that the two sides discussed each other’s core issues for the first phase of an initial trade agreement.
Among other metals, silver was down 0.6% at $16.85 per ounce, while platinum inched down 0.1% to $888.41 per ounce.
Palladium rose 0.7% to $1,716.61 per ounce.