Dubai gold slips to 1-week low. Is it the right time to invest?

Gold prices fell more than 1 per cent, their lowest in a week.

Gold prices fell more than 1 per cent on Monday, their lowest in a week, as hopes of a trade deal between the United States and China improved risk appetite, while a stronger dollar further weighed on prices.
In Dubai, 22k gold is priced at Dh160.25 and 24k can be bought at Dh170.75.
Spot gold was down 1.1 per cent at $1,393.16 per ounce, after falling to its lowest level since June 21 at $1,390.83. US gold futures slipped 1.1 per cent to $1,398.50 an ounce.
The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing. Also, China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table.
China and the United States will face a long road before they can reach a deal to end their bitter trade war, with more fights ahead likely, Chinese state media said after the two countries' presidents held ice-breaking talks in Japan.
Trump had threatened to slap new levies on roughly $300 billion of additional Chinese goods, including popular consumer products if the meeting in Japan proved unsuccessful.
Stocks rallied and bonds retreated in Asia on Monday as a thaw in the Sino-U.S. trade dispute tempered risks to the global economy, leading investors to pare wagers on aggressive policy easing by the major central banks.
Meanwhile, the dollar index gained 0.2 per cent against basket of major currencies. Hedge funds and money managers boosted their bullish stance in COMEX gold in the week to June 25, the U.S. Commodity Futures Trading Commission said on Friday.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.22 per cent to 794.04 tonnes on Friday from 795.80 tonnes on Thursday.

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