High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy.

Gold declined on Tuesday as market participants awaited further developments from ongoing U.S.-China trade talks in London, with negotiations extending into a second day.

A new round of talks aimed at resolving a trade war between the US and China is set take place in London on Monday. US President Donald Trump announced on Friday that a senior US delegation would meet Chinese representatives. Over weekend, Beijing's Ministry of Foreign Affairs confirmed that Vice Premier He Lifeng will attend the talks.