Gold closes lower as stocks rebound, shrugs off weak dollar

Gold prices fell today as market shifted from precious metals and the US dollar to stock markets due to improved risk appetite.

Optimism rose in the market about the new round of the US-China trade talks, which began today and will continue until Friday.

President Trump said today that he will meet with the Chinese Vice Premier Liu He tomorrow at the White House, which raised markets hopes for a tangible progress in the talks.

Trump added that China is willing to make a deal and had pledged to buy more US agricultural products.

Otherwise, the dollar index fell by 0.4% to 98.7 points as of 19:00 GMT, with an intraday high of 99 and a nadir of 98.6.

Gold futures for December delivery lost 0.8% to close at $1,500.9 an ounce, with a session-high of $1,522.3 and a low of $1,496.2.