Gold Prices React to US-EU Trade Deal

In a significant market movement, the price of gold experienced a sharp decline, dropping by more than 1% this Monday. This shift followed the announcement by United States President Donald Trump and European Commission President Ursula von der Leyen regarding a new trade deal between the US and the European Union.

Investors Digest Potential Tariffs on UK Goods

Adding to the market's volatility, President Trump's remarks about considering a 10% tariff on imports from the United Kingdom have left investors weighing the potential impacts. Trump humorously noted the move was aimed to "make the [UK] prime minister [Keir Starmer] happy," further stirring market sentiments.

Precious Metals Market Update

At 10:00 am ET, gold was down by 1.07% to $3,302.06 per ounce. Silver and platinum also saw declines, dipping by 0.59% to $37.95 per ounce and 0.72% to $1,397.14 per ounce, respectively. Conversely, palladium bucked the trend, advancing by 0.67% to $1,218.87 per ounce a minute later.