Gold prices slip on easing trade war concerns

Gold prices slipped further on Monday, due to a strong dollar, as fears of an escalation in the China U.S. trade war eased after a report that the United States does not currently plan to de-list Chinese companies from the U.S. stock markets.

China's top trade negotiator will lead an upcoming 13th round of talks aimed at resolving a trade war with the United States, a senior Chinese official said Sunday.

"The two sides should find a solution through equal dialogue in accordance with the principle of mutual respect, equality and mutual benefit," Wang said at a news conference with other officials, including Commerce Minister Zhong Shan.

Both sides have made conciliatory gestures ahead of the next round of talks, but a deal remains elusive.

Spot gold was trading 0.4% lower at $1,490.50 per ounce as of 0649 GMT. Prices had hit $1,486.60 in the previous session, their lowest since Sept. 18. U.S. gold futures dipped 0.6% to $1,497.20 per ounce.

Gold futures in the local market traded lower by Rs 258 to Rs 37,888 per 10 gram on Monday due to profit-booking by participants on low demand.

Gold for delivery in December was trading lower by Rs 258, or 0.68 per cent, to Rs 37,888 per 10 gram in a business volume of 1,965 lots.

Analysts said, the fall in gold futures was mostly attributed to profit-booking by participants at the domestic market.

Globally, the yellow metal prices declined 0.61 per cent to USD 1,497.20 an ounce in New York.

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