Gold prices declined on Monday as easing tensions between the U.S. and China boosted investors’ risk appetite, reducing demand for the safe-haven asset. A stronger dollar also added pressure. Spot gold fell 0.8% to \$3,292.11 per ounce by 0625 GMT after hitting a record high of \$3,500.05 on April 22. U.S. gold futures rose 0.1% to \$3,302.30. Analysts noted that optimism regarding a potential U.S.-China trade deal has lessened safe-haven demand for gold. While U.S. President Donald Trump mentioned ongoing tariff talks with China, conflicting statements emerged over the weekend, with U.S. Treasury Secretary Scott Bessent not supporting Trump’s claims. Gold typically benefits from economic uncertainties and low-interest-rate environments. This week’s key economic data releases may offer further insights into the Federal Reserve’s policy direction. Other precious metals also saw price movements, with spot silver dropping 0.9% to \$32.80 per ounce. — new from Reuters
