Market Confidence Rises, Gold Falls

In a significant shift, gold prices plummeted by over 1% this Monday, as the easing of trade tensions between the US and China bolstered market confidence, diminishing the appeal of gold as a safe-haven asset.

Trade Policy Shifts Signal Hope

Recent developments have seen US President Donald Trump hinting at a potential softening of his stringent trade policies towards China, with discussions about tariffs reportedly underway. In a reciprocal gesture, China has exempted certain US products from its hefty 125% tariffs, despite denying any ongoing trade negotiations with the US.

Precious Metals Market Reacts

At 5:32 am ET, gold was down by 1.05%, trading at $3,277.97 per ounce. Silver also saw a decline of 0.29%, priced at $32.98 per ounce. On the brighter side, platinum and palladium enjoyed gains, with platinum rising by 0.61% to $983.44 per ounce and palladium increasing by 0.72% to $937.01 per ounce shortly after.