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2019.05.2807:23:00UTC+00Gold Prices Edge Lower Amid Dollar Strength

Gold prices eased for the first time in four sessions on Tuesday and the U.S. dollar regained momentum, as Sino-American tensions continued to flare up and relief over EU election results eased concerns about political difficulties in the block.

Spot gold slid 0.1 percent to $1,284.12 per ounce, after hitting its highest level since May 17 at $1,287.32. U.S. gold futures were little changed with a negative bias at $1,283.25 an ounce.

The dollar has found some traction with U.S Treasuries as trade worries persisted.

The U.S. is not ready to make a trade deal with China and it is likely that American tariffs on goods from China "could go up very, very substantially, very easily," U.S. President Donald Trump said while on a state visit to Japan.

Europe's traditional centrist coalition lost its majority in the European Union's parliamentary elections Sunday, but pro-EU parties held on to two-thirds of seats, limiting the gains of their euro skeptic opponents.

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