Gold prices fell below the mark of $4,000 an ounce in both the spot and futures market in early trading on Tuesday, October 28, as progress in US-China talks over a prospective deal spurred risk assets and continued to dampen demand for haven assets like the yellow metal.

Spot prices made an intraday low of $3,989 an ounce, while futures for the December contract fell to a low of $3,986 on Tuesday. Prices have stabilized so far at those levels, with small buying interest emerging.

Prices of gold are down 9% from the high of $4,381.6 it made in the spot market on October 20. US President Donald Trump has expressed optimism of a trade deal with China when he meets his counterpart Xi Jinping on Thursday. The news has taken indices on Wall Street to record high levels on Monday.

Despite thi

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