2020.01.1309:22:00UTC+00Gold Slips Ahead Of Sino-US Trade Deal

Gold prices fell on Monday as investors await the signing of a "phase one" trade deal between the U.S. and China.

The deal due to be signed at the White House on Wednesday might include a commitment from China to increase agricultural products and implement economic reforms as well as some relief to China's aquatic exports to the U.S.

Spot gold declined 0.8 percent to $1,549.26 per ounce, while U.S. gold futures were down 0.65 percent at $1,549.85.

U.S. Treasury Secretary Steven Mnuchin said on Sunday that China's commitments in the phase one trade deal will be released after the signing ceremony.

Mnuchin also confirmed that China remains committed to the previous agreements of increasing agricultural products' imports from the U.S. as part of this agreement.

A Wall Street Journal report said on Saturday Washington and Beijing had agreed to semi-annual talks aimed at pushing for reforms in both countries and resolving disputes.