Gold prices recorded their largest daily decline in four years, as technical indicators weakened and geopolitical tensions between the United States and China began to ease.
The price of gold fell by 3.8%, retreating from its recent peak of $4,381.52 per ounce reached on Monday. The decline reflects waning demand for safe-haven assets as optimism grows ahead of a planned meeting next week between U.S. President Donald Trump and Chinese President Xi Jinping, aimed at resolving ongoing trade disputes.
In addition, the end of India’s seasonal gold-buying period contributed to the slowdown in global demand for precious metals, further pressuring prices.
