COMEX gold futures extend downside from recent lifetime highs and are currently quoting at $3328.20 an ounce, down 0.60% on the day. Slight rebound in dollar overseas amid possible easing in tensions between the United States and China is keeping the yellow metal under pressure. US Treasury Secretary Scott Bessent said on Monday that the US government is in contact with China but that it’s up to Beijing to take the first step in de-escalating the tariff fight with the US due to the imbalance of trade between the two nations. Retreating fears of trade tension between the world’s two largest economies are seen reducing demand for traditional safe-haven assets like gold. Meanwhile, MCX gold is holding above Rs 96k per 10 gram.