Gold Prices Experience Significant Drop

Following reports of a nearing agreement between the United States and the European Union on a 15% tariff deal, gold prices saw a notable decrease. This development has sparked optimism among investors, leading to a shift away from safe-haven assets.

Investor Sentiment Lifts Wall Street

The news of the potential tariff agreement has positively impacted investor sentiment, with Wall Street indexes climbing. The prospect of a more stable trade environment between these two major economies has encouraged investments in riskier assets over traditional safe havens like gold.

Precious Metals Market Reactions

At 12:22 pm ET, gold was down by 1.42% to $3,382.96 per ounce. Similarly, silver decreased by 0.44% to $39.13 per ounce, platinum dropped by 1.26% to $1,434.83 per ounce, and palladium lost 0.15% to $1,258.97 per ounce.