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Gold Holds Steady Before US Retail Sales Data

Gold prices were flat to slightly higher on Tuesday and the dollar held ground after a report showed deteriorating sentiment among German investors amid ongoing trade dispute between the United States and China.

Spot gold held steady at $1,414.92 an ounce while U.S. gold futures were up 0.2 percent at $1,416.55 an ounce.

Amid rising concerns over global economic slowdown, investors await U.S. retail sales data later in the day for clues about where the broader economy is heading.

Trading on Wall Street later in the day may also be impacted by reaction to reports on U.S. industrial production and homebuilder confidence as well as earnings from Goldman Sachs, Johnson & Johnson, JPMorgan and Wells Fargo.

On the trade front, U.S. Treasury Secretary Steven Mnuchin said on Monday that top U.S. and Chinese trade negotiators are due to speak by telephone in the coming days, but no face-to-face talks have been scheduled yet.

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