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Gold Falls amid Optimism over US-China Talks

Singapore, May 12 (QNA) – Gold prices fell on Monday as optimistic signals from US-China trade talks alleviated market fears, leading investors to shift from safe-haven assets towards riskier investments.

Spot gold fell 1.1% to $3,277.68 an ounce.

US gold futures lost 1.6% to $3,291.60.

The United States and China ended high-stakes trade talks on a positive note on Sunday, with US officials touting a “deal” to reduce the US trade deficit, while Chinese officials said they had reached an “important consensus”.

The US and China imposed tit-for-tat tariffs on each other last month, triggering a trade war that fueled fears of a global recession.

Spot silver lost 0.1% to $32.65 an ounce, platinum rose 0.4% to $998.65, and palladium firmed 0.5% to $980.41. (QNA)

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