Gold futures fell slightly, as apparent progress in U.S.-China trade talks likely sapped some enthusiasm for safe-haven assets like gold.

Gold prices edged lower on Tuesday as traders closely monitored U.S.-China talks, the outcome of which could simmer down trade tensions and boost the global economy, lessening demand for safe-haven assets,

U.S. and China bark, Ukraine bites Even though the U.S. Court of International Trade (CIT) in New York ruled that the Trump administration had overstepped its authority in imposing sweeping tariffs on many countries back on April 2,

Prices of platinum, a white precious metal, have rallied over 30% this year, echoing robust gains in gold prices.

Gold prices edged higher on Monday, supported by a weaker U.S. dollar, as market participants kept a close eye on the ongoing U.S.-China trade talks.

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Gold prices rebounded on Wednesday to $3,335 per ounce, mainly due to uncertainty surrounding the finalization of a US-China trade deal and in anticipation of key U.S. inflation data. Officials on both sides agreed on a framework and on track to remove China's export restrictions on rare earths.

Gold steadied, after rising on escalating tensions in the Middle East, while President Donald Trump ratcheted up trade uncertainty with remarks that he intends to impose unilateral tariffs on dozens of US trading within two weeks.