Gold prices are trading steady under the key $1,500 level early on Tuesday as markets await the outcome of discussions between Britain and the EU on a possible Brexit deal. At the time of writing, GOLD is trading at a little above $1,495.

British and EU officials are expected to hold meetings on Thursday and Friday at the EU summit which could prove decisive on Brexit. Diplomats hinted at the lack of reaching a consensus as the EU looks for more concessions from Britain on key issues, which could make it harder for a deal to be arrived at this week.

Gold is also trading cautious as markets await further clarity on the Phase 1 trade deal between the US and China which was announced at the end of last week. Although the US has put off tariffs on Chinese goods that were originally set to roll out this week, there are no details yet from either side when the partial trade deal will be signed or implemented.