Market

Gold Prices Dip 1% Amid Renewed Trade Tensions and Investor Uncertainty

Gold Retreats as Trade Tensions Resurface

Gold prices fell by 1% on Tuesday, as investors turned their attention back to the ongoing trade disputes and the potential for renewed tensions between the United States and other major economies. This shift in focus comes in light of Washington's latest policy moves.

Potential Trade Deals Still Possible

Despite the current uncertainties, there remains a possibility for trade agreements between Washington and some of its key trading partners. The deadline for implementing the recently announced tariffs has been extended to August 1, leaving room for negotiations.

Market Snapshot

At 10:33 am ET, Gold was down 1.06%, trading at $3,301.31 per ounce. Silver also saw a decline, weakening by 0.71% to $36.51 per ounce. Shortly after, Platinum fell by 1.23% to 1,362.87 per ounce, and Palladium experienced a slight drop of 0.08%, trading at 1,095.59 per ounce.