Gold settles above its 5-week low

Agencies - Abu Dhabi
Gold prices have stabilized slightly above their five-week low touched in the previous session as the dollar fell slightly and stocks fell as investors awaited further signs of the strength of the global economy.

Spot gold fell 0.1 percent to $ 1285.33 an ounce late in the US session.

US gold futures rose 0.2 percent to settle at $ 1287.6 an ounce.

In the previous session, the precious metal plummeted to $ 1280.70, its lowest level since Jan. 25, as prices fell more than 4 percent since hitting a 10-month high on Feb. 20.

Analysts said markets were wary of the trade dispute between China and the United States and were waiting for developments in the talks between the two major economies after their tariff war.
US Secretary of State Mike Pompeo said President Donald Trump would reject any deal that was not ideal but the two sides would continue to work for an agreement, which renewed market fears.

Among other precious metals, palladium rose 1.5% to $ 1,537.54 an ounce.

Silver fell 0.4 percent to $ 15.07 an ounce after falling earlier in the session to $ 15, its lowest level since Dec. 27.

Platinum fell 1.3 percent to $ 825.75 an ounce.