Investing.com - Gold prices were little changed on Monday in Asia as markets largely shrugged off fresh violence in Hong Kong and uncertainty surround the U.S.-China trade negotiations.
U.S. Gold Futures last traded at $1,463.85 by 1:24 AM ET (05:24 GMT), up 0.01%.
Political unrest continued in Hong Kong, as two protesters were shot by police during the morning commute while services on some train and subway lines were disrupted.
According the media in Hong Kong, protesters are angry about what they described as police brutality and meddling by Beijing in Hong Kong.
On the Sino-U.S. trade front, U.S. President Donald Trump said negotiations with China are moving along “very nicely,” stressing that China wanted a deal “much more than I do.”
However, the president described recent reports about how much the U.S. was ready to roll back tariffs on Chinese goods as “incorrect.”
“If we don’t make that right deal, we’re not going to make a deal,” Trump told reporters on Saturday.
Asian stock markets traded in the red today following the news. The safe-haven gold, which usually moves in directions opposite to traditional risk assets, were not able to benefit from the weakened sentiment.
"The China-U.S. trade war and the Hong Kong protest are combining to cast a negative pall on Asian markets today," said James McGlew, analyst at stockbroking firm Argonaut in a Reuters report.
"Hong Kong protests have been dragging on for a while and the view from the financial world is that it's really starting to bite now. The further this drags on it's certainly going to be very negative."