Mubasher: Gold prices declined on Tuesday, as hopes that trade talks between the US and China could result in a deal supported the dollar and boosted appetite for riskier assets, dragging the safe-haven metal, according to Reuters.
By 7:19 am GMT, spot gold declined by 0.18% to $1,507.11 per ounce, while US gold futures fell by 0.19% to $1,508.20 per ounce.
The dollar rose against its peers, including the Japanese yen (JPY) as optimism mounted over the possibility of Washington and Beijing clinching a preliminary agreement to resolve their protracted trade conflict.
The US dollar index, which measures the greenback against six major currencies, ticked up by 0.03% to 97.5300
Asian equities were approaching their highest level since July, amid growing signs of a potential trade truce, with indicators that the US economy is well-positioned for a resilient consumer-driven growth.
However, factory orders report showed that demand for US-made goods saw a more-than-expected drop last September, while business investment on equipment was a little weaker than initially estimated, reflecting that manufacturing sector was still feeling the impact of the trade US-Sino conflict.