Gold inches down as geopolitical concerns take back seat

Gold fell today as political concerns soothed in the market about US-China trade dispute. 

Chinese President Xi Jinping is set to meet the US delegation tomorrow to discuss a possible trade agreement. 

US retail sales fell 1.2% in December, the worst such decline since late 2009, while analysts expected a 0.1% increase. 

Core sales, excluding cars, fell 1.8%, missing estimates of no change. 

The dollar index slipped 0.1% as of 17:03 GMT to 97.1, with a session-high at 97.2. 

As of 17:29 GMT, gold shed 0.1% to $1,314.4 an ounce, with an intraday high at $1,315.7, and a low at $1,304.7.