Gold prices edged up to around $3,970 per ounce on Tuesday but remained close to a more than two-week low hit in the previous session, as encouraging developments in US-China trade talks dented safe-haven demand. Officials from both countries announced that they had reached a framework agreement on tariffs and other key issues during weekend talks in Malaysia, paving the way for President Trump and President Xi to finalize the deal when they meet later this week in South Korea. Still, the precious metal drew support from a weaker US dollar and expectations of Federal Reserve rate cuts. Markets are almost certain that the Fed will lower interest rates by 25bps at its upcoming policy meeting, following last week’s softer-than-expected inflation data.