Gold prices fell on Monday after uncertainty about the US-China trade war prompted some investors to turn to the safe dollar, putting pressure on assets denominated in the US currency.

Palladium, which is used to stimulate the car industry to a new record high amid expectations of a shortage of supply this year, which contributed to exceed the level of $ 1,700 for the first time.

Spot gold fell 0.4 percent to $ 1,490 an ounce by 07:43 GMT, after prices hit $ 1486.60 in the previous session, the lowest level since Sept. 18.

The yellow metal in futures trading in the United States fell 0.6 percent to $ 1496.60 an ounce, according to "Reuters".

Stock markets in Europe and Asia, including China, have stabilized, ignoring reports that the US administration is considering deregulating Chinese companies from US stock exchanges.

Monica Crowley, a Treasury Department official, was quoted by Bloomberg as saying on Saturday that the White House was not considering such a move at the moment, after Reuters reported on Friday that the administration was considering the measure.

In other precious metals, palladium rose 0.8 percent to $ 1,694.85 an ounce after hitting a record high of $ 1,700.71 earlier in the session.

Silver fell more than 1 percent to $ 17.33 an ounce, and platinum fell nearly 1 percent to $ 929.77 an ounce.

Source: Reuters

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