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2018.09.1706:59:00UTC+00Gold Rises On Softer Dollar

Gold prices rose slightly on Monday after two sessions of declines. A softer dollar helped spur some bargain hunting as the Trump administration prepares to impose another US$200bn in tariffs on goods imported from China this week.

Spot gold was up 0.25 percent at $1,198.04 an ounce after falling 0.6 percent on Friday to mark its third straight weekly decline. U.S. gold futures were up 0.11 percent at $1,202.30.

As hopes fade for a thaw in trade relations between the world's two largest economies, the United States is expected to pull the trigger this week on a full-blown trade war with China.

The weakness in the dollar comes in the wake of reports that Beijing is considering declining the offer of talks with the U.S. aimed at diffusing trade tensions, as it isn't prepared to negotiate with a "gun pointed to its head".

Gold prices have fallen more than 12 percent from April amid a rising dollar on expectations of faster U.S. rate rises.

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