Gold prices edged lower during the early Asian session on Tuesday (5/13). The precious metal held steady on the back of a stronger US Dollar (USD), higher US yields and optimism over a US-China trade deal.
Improved risk sentiment following the announcement of an interim deal between the United States (US) and China to reduce tariffs has weighed on safe-haven assets, such as gold prices. The US will cut additional tariffs it imposed on Chinese imports in April this year to 30% from 145%, and China's duties on US imports will be reduced to 10% from 125%. The new measures will be effective for 90 days.
Source: Newsmaker.id
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