Gold falls as easing China-US trade woes dulls safe-haven appeal

Gold falls as easing China-US trade woes dulls safe-haven appeal

KUALA LUMPUR: Gold prices edged lower on Wednesday as softening trade tension between the US and China weakened safe-haven demand, while markets eyed another set of inflation data to assess the Federal Reserve's policy path. © New Straits Times Press (M) Bhd

Gold is likely to find upside momentum in the event of a setback in this optimism.

June gold futures fell 3.47% to $3,228.0 an ounce.

Gold Plunges in UAE: Prices Drop Over Dh5 Amid Breakthrough US-China Trade Talks 1

Gold prices in the United Arab Emirates witnessed a significant drop on Monday, with rates plunging over Dh5 per gram, providing a much-needed respite for buyers in the region. The fall came in the wake of renewed optimism surrounding trade negotiations between the United States and China, which boosted investor confidence and strengthened the US dollar—both key factors that typically exert downward pressure on gold prices. The trigger behind Mo…