The price of gold (XAU/USD) faces significant selling pressure, leading to a drop to a one-week low around the $3,253 to $3,252 area during the Asian trading session. This downward move comes on the heels of positive signals from the ongoing US-China trade negotiations over the weekend, raising investor confidence. As a result, the demand for gold as a safe haven diminishes, particularly at the start of the week. Traders are monitoring how these developments will impact market conditions moving forward.