Gold Prices Decline at the Start of the Week Amid Increasing Downward Pressure with Anticipation of Agreement Between President Trump and President Xi Jinping

Gold prices declined at the beginning of the week as the increase in the dollar's value and signs of easing trade tensions between the U.S. and China affected the attractiveness of the precious metal as a safe haven.

Investors are closely monitoring upcoming major central bank meetings for indications on future monetary trends.

Expectations of a 25 basis point interest rate cut by the U.S. Federal Reserve during Wednesday's meeting, supported by weak inflation data, may enhance the appeal of gold as an investment.

The SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, reported a 0.52% decline in its holdings to 1,046.93 metric tons.

Gold prices have seen a decline, with December futures contracts dropping by 0.2% to $4,137.80 per ounce, while spot gold fell by 1% to $4,072.65.

The rise in the dollar has increased the cost of gold for holders of other currencies, negatively impacting its prices.