Gold prices fall below $1,500 level on Yemen news

Gold prices fell on Monday in Asia as safe-haven demand took a hit by reports that Saudi Arabia would agree to a ceasefire in Yemen, where it has been fighting anti-government Houthi rebels for the last four years.

Gold futures for December delivery lost 0.5% at $1,498.35 per ounce by 12:10 AM ET (04:10 GMT) on the Comex division of the New York Mercantile Exchange.

Comex futures slid 0.8% last week after a 1% rebound week before, its only positive week in the last five.

On the other hand, reports that the U.S. plans to curb Chinese activity on Wall Street limited losses of the yellow metal.

Bloomberg reported that the White House is considering ways to limit investor portfolio flows into China.

The U.S. government was also considering de-listing Chinese companies from local exchanges and examining limits on Chinese companies included in stock indexes that are managed by American firms, Bloomberg reported.

The report came as officials from the two countries were set to return to trade negotiations on Oct. 10.

Political unrest in Hong Kong is also in focus this week. A a series of protests are reportedly planned for the 70thanniversary of the People’s Republic on Tuesday.

Carrie Lam, Hong Kong’s chief executive, said on Thursday that she took responsibility for the “entire unrest” that has rocked the city since June.