Gold totters as trade deal optimism propels stocks to record highs

Wall Street's main indexes hit record highs at the open on upbeat comments related to US-China trade talks and strong earnings

Gold prices were on track to break a three-session winning streak on Friday, as stock markets hit record highs following comments from US officials that progress was being made on the "phase one" trade agreement with China.

Spot gold was down 0.2% at $1,467.48 per ounce at 12:54 p.m. EST (1754 GMT). US gold futures were down 0.4% at $1468.20 per ounce.

"Overall trading gold has been impacted by the trade war and there is tremendous optimism with the final stages of getting stage one deal ratified," said Edward Moya, a senior market analyst at OANDA.

"This has been the