27.08.201906:47:00UTC+00Gold Holds Steady In Lackluster Trade

Gold prices held largely steady on Tuesday after scaling a fresh six-year high on Monday to surpass the $1,550 mark in intraday trade as both the U.S. and China announced new tariffs on each other's goods.

Spot gold rose 0.25 percent to $1,530.88 per ounce, while U.S. gold futures were up 0.2 percent at $1,540.25 an ounce.

There is some improvement in risk appetite after U.S. President Donald Trump flagged the possibility of a trade deal with China, saying he believed Beijing was sincere in its desire to reach an agreement.

Trump's comments helped temper sharp losses in global equity markets, though analysts remain doubtful that trade talks have really turned a corner.

Trump told reporters at the G-7 summit that top Chinese officials had called asking for the resumption of trade talks and prospects for a deal were better now than at any time since talks began last year.