Asian Markets Trade Lower after U.S. Equities Close In the Red, Gold Hits One-Week High

Gold futures gained on Tuesday, extending its upward rally to a third consecutive session amid global selloffs. The precious metal hit one-week high in Asian trading hours as Asian shares, which took their cues from a weaker U.S. equities session, were down in morning session.

On Monday, European markets reached a 16-month high but failed to hold on to the gains as risk aversion returned while U.S. equities  closed in the red after U.S. President Donald Trump signaled a potential tense meeting between him and his Chinese counterpart Xi Jiping later this week.

Gold futures prices rose nearly 0.4 percent to trade at $1258.70 per ounce, benefitting from its status as a safe haven asset.

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