Gold has recorded a decline since the end of last week, ending a loss of more than 2.50% with an improvement in risk appetite due to the easing of trade war tensions and the support of the labor market in the United States.
At 9.30 am, the price of gold was at $3,268.71, up 0.88% since it opened in early trading on Monday in the Asian session.
The news regarding the Chinese Ministry of Commerce saying that the United States is ready to start tariff discussions and the market is increasingly confident that the Donald Trump administration will be more open to the Asian giant.
The price of the traditional commodity asset extended its losses after the release of Non-Farm Payroll (NFP) data for April along with the unemployment rate.
The important data dragged the price of gold down to a weekly low of around $3,200 and reduced investors' bets that the Federal Reserve (Fed) will cut rates throughout this year.
US Treasury yields rose sharply, but the US Dollar Index (DXY), which tracks the Greenback's performance against a basket of six other currencies, is now down 0.28% to 99.75.
This week, market participants will be eyeing the report of the US Federal Reserve's monetary policy meeting, the FOMC, where the central bank is expected to keep interest rates on hold.
