22.05.201914:25:00UTC+00Gold Futures Settle Marginally Higher

Gold prices edged higher on Wednesday, recovering from three-week lows touched in the previous session, as equities eased and the dollar shed some ground amid rising concerns about an escalation in U.S.-China trade dispute.

However, gains for the yellow metal were just marginal as traders largely made cautious moves ahead of the release of the minutes of the Federal Reserve's latest policy meeting.

The dollar index, which dropped to a low of 97.89, subsequently recovered to around 98.00.

Gold futures for June settled at $1,274.20 an ounce, gaining $1.00, or 0.1%, for the session.

On Tuesday, gold futures for June ended down $4.10, or 0.3%, at $1,273.20 an ounce.

Silver futures for July ended up $0.039, at $14.449 an ounce, while Copper futures for July settled at $2.6780 per pound, down $0.0370 per pound.

Trade tensions remained in focus after the New York Times reported that the Trump administration is considering placing limits to Chinese video surveillance firm Hikvision's ability to buy U.S. technology.

A recent comment by Treasury Secretary Steven Mnuchin that U.S. has no plans to go to Beijing to resume trade negotiations have added to fears that the trade dispute between the world's two largest economies is unlikely to end anytime soon.

Meanwhile, a report from the South China Morning Post said China is re-examining the entire bilateral economic relationship between the U.S. and China.