Precious Metal Markets Retreat After US-China Tariff Reduction Deal
Gold prices dropped 3% to $3,223.57 per ounce on Monday after the US and China agreed to a 90-day pause on tariffs.
The agreement, which includes a 115% reduction in reciprocal tariffs, strengthened the dollar and reduced demand for safe-haven assets like gold.
Analysts suggest gold may decline to $3,200/oz in the near term, though central banks might use this price drop as an opportunity to increase their gold holdings.
