Gold prices extended losses on Tuesday to around US$3,941 per ounce, the lowest since early October, as improving trade-deal sentiment between the U.S. and China reduced safe-haven demand. U.S. gold futures slipped to about US$3,958. Investors also noted that a potential Fed rate cut and weaker dollar limit gold’s upside, and that inflation-hedge motives may be tempered if monetary easing accelerates. Some analysts warn gold could test US$3,500 if risk sentiment remains elevated.