Gold fell nearly 1% on Tuesday after hitting a near four-week high, pressured by a firmer dollar as investors grew cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping.

Gold prices are rising due to mutual accusations between the US and China of violating a trade agreement, as well as ongoing tensions in Ukraine. Investors are seeking safe assets, which is driving up the value of this precious metal.

The dollar index (DXY00) today is down by -0.67% at a 1-1/4 month low. Escalation of US-China trade tensions has led to a selloff of the US dollar after China accused the US of violating their recent trade deal by unilaterally introducing new discriminatory restrictions.