Gold resumes losses as dollar powers up

Dollar's strength weighed on many commodities today, including gold, which resumed last week, while focus shifts to US-China trade talks to solve the trade dispute. 

Markets were soothed after US Treasury Secretary expressed optimism for upcoming negotiations with China. 

Conversely, US Vice President Mike Pence said he expects another government shutdown after the current funding extension ends next Friday. 

In his State of the Union speech, President Donald Trump asked Congress to work together across the isle and reach an agreement in order to fund his border wall with Mexico. 

As of 17:31 GMT, the dollar index rose 0.4% to 97.06, with an intraday high at 97.08, and a low at 96.6. 

Gold futures due in April shed 0.5% to $1,312.5 an ounce, with an intraday high at $1,318.7, and a low at $1,307.1.