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Markets Turn from Gold as U.S.-China Schedule Tariff Talks

Gold On Pace for Historic 91.5% Annual Return Through Q1 2025
Gold On Pace for Historic 91.5% Annual Return Through Q1 2025

Gold prices fell by 1.2% to $3,388.49 an ounce on Wednesday as markets responded positively to news that U.S. and Chinese officials will meet in Switzerland this weekend to discuss tariffs.

This meeting between U.S. Treasury Secretary Scott Bessent and Chinese economic official He Lifeng comes after both countries imposed retaliatory tariffs last month, which had previously driven investors toward safe-haven assets like gold.

Investors are now focused on the Federal Reserve’s policy announcement scheduled for 1800 GMT, where rates are expected to remain unchanged.

Any signals about future rate cuts will be closely watched, as lower interest rates typically benefit gold prices. Currently, markets estimate only a 30% probability of a June rate cut.

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