Gold Prices Decline Amid Trump's Trade Deal Optimism

In a significant market movement, gold prices fell by more than 1% following President Donald Trump's announcement of pursuing a "fair deal" on trade with China. This statement, made during a rally in Michigan, has eased investor concerns, diverting attention from safe-haven assets like gold.

Market Reactions Across Precious Metals

By early Wednesday, gold was trading at $3,276.77 per ounce, marking a 1.22% decrease. Similarly, silver saw a 2.03% drop, priced at $32.27 per ounce. Platinum wasn't spared either, with a 1.19% decline to $969.53 per ounce. Conversely, palladium bucked the trend, rising by 0.73% to $919.25 per ounce.