Gold prices edged lower on Tuesday as traders closely monitored U.S.-China talks, the outcome of which could simmer down trade tensions and boost the global economy, lessening demand for safe-haven assets,

China’s central bank expanded its gold reserves for a seventh straight month in May, furthering its bid to diversify holdings despite ongoing price fluctuations.

U.S. and China bark, Ukraine bites Even though the U.S. Court of International Trade (CIT) in New York ruled that the Trump administration had overstepped its authority in imposing sweeping tariffs on many countries back on April 2,

The report suggests Trump could adopt a flat 10 per cent tariff across the board on all imports and raise tariffs on Chinese goods slightly higher to 20 per cent.

Gold advanced even after the US and China said they had agreed on a plan to ease trade tensions during talks in London.

U.S. President Donald Trump appears to be looking for a way out to exit from his aggressive tariff policy, especially toward China, according to a recent report by Jefferies.

Prices of platinum, a white precious metal, have rallied over 30% this year, echoing robust gains in gold prices.

Gold prices rose on Tuesday amid ongoing geopolitical tensions, while traders closely monitored developments in trade talks between the U.S. and China. Spot gold was up 0.3% to $3,335.79 an ounce as of 10:15 a.