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2018.04.3001:55:00UTC+00Gold Prices Little Changed as Dollar Steadies, Geopolitical Tensions Ease

Gold prices were little changed on Monday as investor interest in the precious metal declined while the U.S. dollar steadied and there were signs of easing geopolitical tensions on the Korean peninsula, lowering the safe-haven demand for gold.

Spot gold dropped 0.1 percent to $1,320.80 an ounce.

U.S. gold futures for June delivery were down 0.1 percent at $1,322 an ounce.

The precious metal is on track for marginal monthly drop of 0.2 percent for April.

The dollar index, which hit a 3-½-month high of 91.986 on Friday, was steady at 91.552.

Markets were mostly quiet on Monday with Japan, China and India on holiday and as much of Asia will be closed on Tuesday.

North Korean leader Kim Jong Un Kim and South Korean President Moon Jae-in announced they would take steps to formally end the 1950-53 Korean War, which ended only with a truce, and work towards the "denuclearisation" of the Korean peninsula.

A delegation of U.S. officials, including Treasury Secretary Steven Mnuchin and President Donald Trump's top economic and trade advisers are all expected in China later this week for trade negotiations.

Hedge funds and money managers reduced their net long position in COMEX gold contracts and switched to a net long position in silver contracts in the week to April 24, according to data from the U.S. Commodity Futures Trading Commission.

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