GOLD PRICE SLIDES BACK CLOSER TO $3,300 AMID TARIFF DEALS OPTIMISM
GOLD PRICE SLIDES BACK CLOSER TO $3,300 AMID TARIFF DEALS OPTIMISM
Gold prices fell nearly 1% to $3,314.99 per ounce on Tuesday, as optimism about U.S.-China trade negotiations reduced the metal's appeal as a safe-haven asset.
U.S. Treasury Secretary Scott Bessent indicated progress with nations like India, and China's recent tariff exemptions suggest de-escalation.
The U.S. is expected to soften automobile-related tariffs, further calming market anxiety.
Despite easing trade tensions, concerns about a potential global recession persist, as highlighted in a Reuters poll.
Investors are now focused on upcoming U.S. economic indicators, including job openings, personal consumption expenditures, and Friday's non-farm payrolls report, which could influence Federal Reserve policy.
Other precious metals also saw declines, with silver down 0.5%, platinum down 0.2%, and palladium dropping 0.4%.
