Gold erased earlier gains to finish flat as a White House official said the US is moving forward with tariffs in China.
The White House said President Donald Trump is proceeding with tariffs that would amount to 104% on many Chinese goods. Meanwhile Chinese Premier Li Qiang said his country has ample policy tools to 'fully offset' negative external shocks.
US equities and bonds fell following large swings, while bullion erased gains of as much as 1.3% as investors tried pricing a global trade war in which Trump may be open to tariff deals, but negotiations won’t be easy.
Gold for immediate delivery was little changed at $2,982.92 an ounce at 5 p.m. in New York. Silver slipped, while palladium was flat and platinum edged higher.