Gold edged lower on Tuesday as the US dollar staged a modest recovery amid weaker US economic data.
At 9.30am, gold prices were at $3,318.48, unchanged since opening early Wednesday in Asian trading.
US stock markets continued to rise as investors turned optimistic that President Donald Trump would reduce tariffs on automotive, car and truck parts and moderate his stance on China.
The US Dollar Index (DXY) rose 0.27% to 99 points after hitting a year-low of 97.92 on April 21.
US Treasury Secretary Scott Bessent said in a statement that there had been some progress in trade talks between India and Japan, but that talks with China were difficult.
Looking at current levels, gold prices have gained 25%, supported by uncertainty over US trade policy and a slightly dovish Fed tone.
However, US economic data saw the labor market soften and the Conference Board (CB) Consumer Confidence showed households becoming increasingly pessimistic about the economic outlook.
