Gold prices fall in thin trade as risk aversion recedes

Gold prices slipped on Monday as risk aversion waned with the progress in U.S.-China trade talks, while a firm dollar kept the bullion under pressure.

Spot gold was down 0.4 percent to $1,312.56 per ounce as of 0455 GMT, having hit their highest since April 26 at $1,326.30 on Thursday.

U.S. gold futures fell 0.4 percent to $1,317 per ounce.

"The plunge (from Thursday's peak) came along with fading enthusiastic for safe-havens, as U.S. and China are moving to close a deal and many uncertainties surrounding the U.S. government shutdown, Brexit, Fed policy were cleared last week.

The U.S.-China trade talks had a "good vibe" with much work remaining, White House economic adviser Larry Kudlow said on Friday, fanning hopes of an end to the long-drawn trade tiff between the world's two largest economies.

Meanwhile, the dollar was near a one-week high against the yen on the back of robust U.S. jobs data.

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