Gold turns lower on renewed trade hopes

Gold prices fell today, after hopes about the US-China trade deal were renewed, which dampened safe-haven demand on precious metals and spurred investors risk-appetite on stocks.

Multiple news agencies said the US and China are close to signing the phase one of the final trade deal, bearing in mind that the US might impose further tariffs against China by mid-December.

Which comes despite President Donald Trump's remarks yesterday that a trade agreement with China might have until after the presidential election in 2020.

Otherwise, the dollar index fell against a basket of currencies by about 0.1% to 98.6 points, and hit an intraday high of 98.7 and a low of 98.4.

Gold futures (February delivery) fell by 0.3% and closed at $1,480.2 an ounce, with a high of $1,489.9 and a low of $1,476.7.