Economic news

Gold edge lower before North Korea historic summit

Gold futures edged down on Monday as a cautious sentiment took over ahead of the meeting between U.S. and North Korean leaders and two major central bank policy meetings due this week.

August gold lost 0.3%, to $1,298.80 an ounce. The yellow metal had managed a moderate weekly recovery of almost 0.3% last week after challenging the crucial $1,300 mark.

July silver rose 0.3% to $16.785 an ounce. It posted a weekly increase of 1.8%.

In the currency market, the ICE U.S. Dollar Index DXY ticked up 0.1%, according to FactSet data.

Global trade problems remained in focus, following weekend tensions between Trump and Canadian Prime Minister Justin Trudeau, with U.S. President backing out of the Group of Seven joint communique after Trudeau criticized U.S. tariffs on metals.

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