MTECHTIPS;-Gold Prices Lower as U.S. Stock Futures Rise

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MTECHTIPS;-Gold Prices Lower as U.S. Stock Futures Rise

MTECHTIPS-Gold prices were lower on Monday as gains in U.S. stock futures and a firmer dollar dampened demand for bullion, despite simmering trade tensions between the U.S. and China. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell $3.20 or 0.24% to $1,333.00 a troy ounce by 04:15 AM ET (08:15 AM GMT). U.S. stock futures pointed to a higher open on Wall Street Monday after a deep selloff on Friday, as fears over the prospect of a trade war rattled investors. Worries that protectionist trade policies might result in a full blown trade war have fueled fears over the impact on the global economy and U.S. growth, but investors are hopeful that negotiations will result in a compromise. U.S. President Donald Trump said on Twitter on Sunday that China would take down its trade barriers because it was “the right thing to do.” China said Friday that it was prepared to hit back “forcefully” if the Trump administration followed through on a threat to impose $100 billion in additional tariffs on imports. Investor sentiment was also boosted by reports that North Korea had told the U.S. for the first time that it was prepared to discuss denuclearize when their leaders meet