COMEX gold prices came further off their lifetime high levels but continue to stay perched above $4k mark on Monday morning in Asia. The counter is currently down over 1% to trade at $4083.20 an ounce. Progress in trade talks between US and China are seen reducing tensions and thereby safe haven demand for the commodity. The meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea on Thursday will be closely watched. However, softer US inflation data released on Friday has reinforced the expectation of rate cuts from the US Federal Reserve (Fed), weighing on dollar that could likely support the yellow metal.

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