Gold down

Bengaluru: Gold edged lower on Monday, with prices breaking back below the psychological $1,200 level as

the dollar rose on the back of worries about escalating global trade tensions.

Spot gold was down 0.3 percent at $1,196.93 an ounce at 0054 GMT. U.S. gold futures were down 0.4 percent at $1,202.50 an ounce.

Markets are nervous about the escalating trade conflict between the United States and China, after U.S. President Donald Trump said last week that he wanted to move ahead on a plan to impose tariffs on Chinese imports worth $200 billion.

Trump said on Saturday there was no need to keep Canada in the North American Free Trade Agreement and warned Congress not to meddle with the trade negotiations or he would terminate the trilateral trade pact altogether.