Gold prices fell for a third straight day, sliding as much as 2.2% as markets reacted to President Trump’s tariff announcements.
This pullback marks the largest three-day decline for gold since August 2020, driven by investor concerns about trade tensions and the potential economic fallout.
Even as officials from the Trump administration sought to calm markets and clarify policy intentions, traders continued to reduce positions in gold and other assets amid worries that escalating tariffs could trigger a global trade war and slow economic growth.
Despite the recent setback, gold is still up about 14% year-to-date, reflecting persistent demand for the metal as a hedge against uncertainty and inflationary pressures.