The gold market fell 3% throughout Monday's trading session following the support of weekend talks between the United States and China that agreed to reduce tariffs for 90 days.
At 9.15 am, the price of gold was at $3,235, which has remained stable since it opened early Tuesday in the Asian session.
The US stock market recorded gains after the US-China negotiations where both countries lowered duties and agreed to maintain further talks to reach a trade agreement in Switzerland.
The two world economic giants agreed to reduce tariffs from 145% to 30% and from 125% to 10% according to a joint official statement.
As a result, the market still sees gold as a hedge asset amid uncertainty and plunged more than $100 due to the rise in the US dollar. The US Dollar Index (DXY) that tracks the performance of the USD jumped 1.25% to 101.74 points.
For now, investors' attention will turn to the release of the US Consumer Price Index (CPI), Producer Price Index (PPI) and Retail Sales reports this week.
