Global gold prices slipped on Monday in Asia amid reports that the US and China are nearing a trade deal. Xinhua, Chinese state media, reported that high-level officials from China and the US has "constructive talks" about a phase-one trade deal over a phone call Saturday morning.
Gold futures for December delivery were down 0.2% to $1,466.25/ounce.
Gold slipped from its key $1,500 level early this month after Federal Reserve Chair Jerome Powell suggested that the Fed would not go for any more rate cuts this year.
Further, China reduced the seven-day reverse repurchase agreements for the first time since 2015, which enhanced sentiment.
Meanwhile, MCX Gold Dec Futures were trading at Rs37,934/10g, down 0.17%.