Gold Falls On Improved Risk Sentiment, Dollar Recovery

Gold prices fell on January 8 as risk appetite improved on bets China and the United States may be closing on a trade deal, and as the dollar bounced off a 2-1/2-month low hit in the previous session.

Spot gold was down 0.5 percent at $1,282.70, as of 0516 GMT, while US gold futures were 0.5 percent lower at $1,283.50 per ounce.

"Because of improved investor sentiment, gold is coming off its highs and may have to stay around the current levels," said Mark To, head of research at Wing Fung Precious Metals in Hong Kong.

"The market has been troubled by uncertainties around trade war and interest rate hikes. However, now most of the stake holders, including the authorities in US, China and Fed, are trying to cooperate and put up a positive tone and create a stable environment for investors."

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