Gold Prices Continue Downward Spiral

Gold prices experienced a significant drop on Monday, marking the third consecutive session of decline. The downturn is attributed to escalating trade tensions initiated by President Donald Trump, which have sparked fears of a global economic recession. This has led investors to shift away from safe-haven assets like gold.

Market Reactions

At 11:12 am ET, gold was down by 1.64%, trading at $2,986.81 per ounce. Platinum and palladium also saw decreases, with platinum losing 1.22% to $916.21 per ounce and palladium dropping by 0.11% to $903.52 per ounce. In contrast, silver prices rose by 1.27% to $30.00 per ounce.