Gold Prices Dip Following Historic Surge

After reaching an unprecedented peak of $3,500, gold prices have experienced a 3% decline, influenced by optimistic developments in US-China trade relations and reduced concerns over Federal Reserve autonomy.

Trade Relations and Federal Reserve News Impact Market

US Treasury Secretary Scott Bessent's confidence in easing trade tensions with China, alongside President Donald Trump's retraction of comments about removing Fed Chair Jerome Powell, has contributed to the shift in gold's trajectory.

Market Movements at a Glance

At 9:55 am ET, gold was down 3.13%, trading at $3,275.94 per ounce. Meanwhile, silver saw a 1.20% increase, platinum rose by 1.51%, and palladium gained 1.04%.