Gold and silver prices fall on easing safe-haven demand

Gold prices fell on Tuesday as investors trimmed safe-haven holdings ahead of a planned meeting between U.S. President Donald Trump and Chinese leader Xi Jinping on trade relations.

December gold futures on New York’s Comex were down $16.99, or 0.39%, at $4,342.41 per ounce. Silver futures for December delivery fell 1.81% to $50.455 per ounce.

“Profit-taking and reduced flows into safe-haven assets have pressured gold today,” said Tim Waterer, analyst at KCM Trade. He added that easing global trade tensions and lower geopolitical risks could further weigh on demand for gold.

Trump said on Monday he still plans to meet Xi in South Korea in the coming weeks to seek a “fair” trade deal.