Gold prices dropped to around $3,300 per ounce on Monday, marking a third consecutive session of decline and reaching its lowest level in a week, as markets now await another round of US-China trade talks. After the highly anticipated call between President Donald Trump and President Xi Jinping on Thursday, top negotiators from Washington and Beijing are set to hold talks in London later today, raising hopes that the two largest economies can make progress on an array of disputes that have rattled markets this year. Adding to the downward pressure on gold, a stronger-than-expected US jobs report released on Friday reduced some concerns about the country’s economic downturn and dampened hopes for imminent Federal Reserve rate cuts this year. However, the metal’s losses may be capped by escalating Russia-Ukraine war. Russia launched a massive drone and missile strike on Kyiv and other parts of Ukraine early on Friday, days after Ukraine’s surprise attack on Russian air bases.