The US wants the WTO to review the "developing country" tag for India and China.
Spot gold was up 0.2 percent at $1,312.82 per ounce as of 0419 GMT, while US gold futures gained 0.2 percent to $1,316.2 an ounce.
Concerns over US-China trade war, a slowdown in global economic activity and buying from central bank augurs well for the yellow metal. Gold prices are likely to touch $1,350 in the medium term.
Trump on February 1 threatened to go ahead with his planned slapping of additional tariffs on Chinese imports if the deal is not reached by March 1.
Next round of trade negotiation is expected to happen later this month wherein Chinese side would be led by Vice Premier Liu He. Sequence of events gets interesting as China’s communist party plenum (19-22 Jan’19) is also around the corner. This is important as traditionally major reforms are announced in such events which may point towards more opening of the Chinese economy.
As many as 47 percent of the poll respondents feel that the currency is likely to hover in the range of Rs 70-72 against the USD, while 27 percent of them feel that the currency could depreciate towards Rs 72-74/USD in 2019.
The notice does not affect the 25 percent tariff rate already in place on $50 billion worth of Chinese technology items.
China will now suspend 25 percent tariffs on 144 US vehicle and auto part items and 5 percent tariffs on 67 auto items between January 1 and March 31.
Boeing shares fell about 4 percent while the Dow and the S&P were down more than 1.5 percent.
Oil companies would look to make the most of this dip in crude prices and USD/INR.
Trump has slapped punishing tariffs on more than $250 billion in Chinese imports so far this year, demanding that Beijing end allegedly unfair trade practices.
Trump argues that the massive balance of trade in China's favour is not sustainable for the American economy.
The US President kicked off the trade war in June by slapping additional tariffs on billions of dollars of Chinese exports, piling up pressure on China to reduce over $335 billion trade deficit in $710.4 billion bilateral trade
Trump has threatened to impose tariffs on all remaining Chinese imports - about $267 billion more in goods - if Beijing fails to address US demands.
Chinese State Councilor Yang Jiechi said the trade issues that exist between America and China are due to different economic structures and development stages in the two countries
Trump administration officials have said US-China trade talks cannot resume until Beijing outlines specific actions it would take to meet US demands for sweeping changes
Trump said every citizen benefits when his administration stops foreign countries from cheating American workers
Referring to his trade war with China, Trump told reporters at a White House news conference that China wanted to talk to the US very badly, but he was not ready yet
Apple laid out the impact on its products of the Trump administration's proposed tariffs on $200 billion worth of Chinese goods in an unsigned letter it submitted on Wednesday to US officials as part of a public comment period.
Such a step would significantly escalate his trade war with Beijing and would likely increase costs for a broad range of US businesses and consumers.
The US has punitive tariffs on $50 billion in goods already in place, and another $200 billion "in the hopper" that Trump said "could take place very soon."
Ministry spokeswoman Hua Chunying told a regular briefing in Beijing that China has made the utmost efforts to avoid an escalation of trade frictions.
Chinese debt has ballooned to over 300 percent of its GDP even while domestic consumption and exports have both grown in tandem over the past decade.