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Gold prices slide as trade developments drive investors back to equities

  • At 12.15 PM GMT on Monday, Gold futures (GCQ19) for August delivery was down more than a per cent at $1,332.20 a troy ounce

Gold prices plummeted for the first time in nine sessions, after the US-Mexico trade deal drove investors back into the riskier equity markets, lowering demand for the precious metal. Gold futures rose close to 3 per cent last week to record the highest weekly gain in more than a year on expectations that the Federal Reserve will cut interest rates amid the ongoing slowdown, largely triggered by the Sino-US tariff war.