Gold prices dip after White House clarifies trade deal mixup

Gold prices fell earlier on Tuesday in Asian trade, retreating from an earlier rally on the back of Washington s comments on the U.S.-China trade deal.

White House trade advisor Peter Navarro temporarily spurred worries from investors on Monday after he said that the trade deal with China was  over . However, Navarro later added that his comments were taken  out of context  with U.S. President Donald Trump clarifying in a Twitter post that the trade deal was still  fully intact .

Gold futures slid by 0.07% to $1,765.25 per ounce at 01:08 AM ET (06:08 AM GMT) as investors retreated from the yellow metal after the clarifications.

Stocks, which are often observed to move in the opposite direction to gold, traded higher after falling slightly on Monday.  

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