Gold Prices Tumble as U.S.-China Tariff Deal Drives Investors Away From Safe Havens

Gold Prices Tumble arsenic U.S.-China Tariff Deal Drives Investors Away From Safe Havens

The terms of golden was tumbling connected Monday aft the U.S. and China announced a woody to chopped tariffs connected each other's goods, causing investors to pivot to risk-on assets.

Futures prices dropped 3.7% to $3,219 per Troy ounce successful aboriginal trading, putting the precious metallic astatine its lowest level successful a month.

Tariff uncertainty had sparked a record-breaking tally for bullion, which topped $3,000 an ounce for the archetypal clip ever backmost successful March. Signs of a thawing successful tensions betwixt the world's 2 largest economies look to person dented its entreaty arsenic a harmless haven that tin support its worth successful times of heightened volatility.