Gold Prices Decline After Easing Trade Tensions
Gold prices fell on Monday after reaching a record high earlier in the session as trade tensions eased following U.S. President Donald Trump’s announcement that smartphones and computers would be exempt from retaliatory tariffs.
The yellow metal dropped 0.1 percent in spot transactions to $3,232.45 per ounce, having peaked at $3,245.42 per ounce earlier today. Meanwhile, U.S. gold futures rose 0.1 percent to $3,248.20 per ounce.
Last Friday, gold prices surged above $3,200 per ounce for the first time amid escalating trade tensions between the United States and China, causing disruptions in global markets.
In other precious metals, silver fell more than one percent in spot transactions to $31.91 per ounce, while platinum increased by 0.6 percent to $948.45 per ounce, and palladium rose by 0.8 percent to $922.98 per ounce.
