The gold market moved slightly lower at the beginning of the week as the trade war tensions between the United States and China eased, which will provide some relief to investors and the US dollar will strengthen.
At 9.20 am, the price of gold was at $3,309.43, down 0.30% since it opened at the beginning of Monday's trading in the Asian session.
Recently, the Donald Trump administration gave more open signals that reduced the tension of the trade war between the world's two largest economies and eased fears of a recession.
Last Friday, China exempted some high US import tariffs in support of reducing tensions but they still denied claims that the Donald Trump administration had sent joint negotiations.
However, gold is still seen to remain intact at its highest position due to the potential for policy easing by the Fed at the upcoming meeting.
China, the world's largest gold consumer, remains consistent in increasing its holdings amid high attraction to prices and its demand by world central banks.
