Gold fell to a one-week low on Tuesday as hopes for a U.S.-China trade deal buoyed risk sentiment, while gold investors will watch how other financial markets react to this week's Federal Reserve meeting at which the central bank is widely expected to cut U.S. interest rates.

Spot gold was down 0.4% to $1,487.08 per ounce at 11:00 a.m. EDT (1500 GMT). U.S. gold futures fell 0.4% to $1,489.40 an ounce.

"Gold is still down due to the general positive tone in the markets right now ............ET