WASHINGTON (dpa-AFX) - Gold prices advanced on Tuesday after a steep fall in the previous session as the U.S. and China agreed to a truce in their trade war.
Spot gold rose 0.6 percent to $1,392.11 per ounce while U.S. gold futures were up 0.4 percent at $1,395.05 per ounce.
Global growth worries resurfaced as discouraging manufacturing surveys in the past 24 hours cast a shadow over the apparent progress U.S. and Chinese leaders made at the G20 summit.
Investors were also digesting comments from U.S. President Donald Trump that any trade deal with China would need to be somewhat tilted in favor of the United States.
Trump said China has had a 'big advantage' over the United States in trade for 'many years.'
'So obviously you can't make a 50-50 deal. It has to be a deal that is somewhat tilted to our advantage,' he added.
In another significant development, the United States on Monday proposed $4 billion in tariffs on a range of European Union products in a 15-year dispute over aircraft subsidies.
Copyright RTT News/dpa-AFX
© 2019 AFX News
