Gold Settles Lower As Equities Rise On Trade Deal Optimism

(RTTNews) - Gold futures ended the last session of Year 2018 with a marginal loss, as equities moved higher amid optimism about a potential U.S.-China trade deal.

U.S. President Donald Trump tweeted on Sunday that he had a "long and very good" telephone call with Chinese President Xi Jinping. He wrote : "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big process is being made!"

Chinese state media cited President Xi Jinping as saying he believed both sides wanted "stable progress."

Gold futures for February ended down $1.70, or 0.1%, at $1,281.30 an ounce on Monday, after recording a fresh six-month high at $1,286.45.

Gold futures climbed 4.7% in the month and notched up a gain of about 7.3% in the fourth quarter, due largely to frequent heavy selling in stock markets amid trade war jitters, political uncertainty and worries about global economic growth.

For the year, however, gold futures shed about 2.1%.

Silver futures for March settled at $15.540 an ounce, up $0.104 from previous close.

Copper futures for March ended at $2.631 per pound, down $0.016 per pound.

The dollar index was hovering around 95.70, down by about 0.25% from previous close.