WASHINGTON (dpa-AFX) - Gold prices were little changed Monday, trimming early losses but staying near 5-month lows.
Gold has come under pressure of late due to increased risk appetite, but managed to withstand today's big developments.
June gold lost 40 cents to settle at $1,290.90/oz.
Stocks rallied amid news that the U.S. and China will refrain from punitive tariffs that may have sparked a trade war.
'To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services,' China and the US said. 'This will help support growth and employment in the United States.'
In economic news, the Chicago Fed's index of national economic activity was a positive 0.34 last month, gaining from the upwardly revised positive 0.32 in March.
Copyright RTT News/dpa-AFX