Gold experienced a price decrease, ending a recent upward trend, as market sentiment shifted in response to potential de-escalation of trade tensions between the US and China. Investors are also keenly awaiting the Federal Reserve’s policy announcement and commentary.
- Gold price slipped below $3,380 per ounce.
- US and Chinese officials are scheduled to meet this week.
- The US-China meeting is aimed at easing the ongoing trade war.
- President Trump raised tariffs on Chinese imports to 145% while lowering them for other partners.
- China retaliated with its own tariffs.
- Investors are awaiting the Federal Reserve’s policy decision and remarks from Fed Chair Powell.
- The Fed is expected to hold interest rates steady.
The price movement suggests that geopolitical factors and anticipated central bank actions are significantly influencing the asset’s value. Optimism surrounding international trade negotiations has reduced its appeal as a safe haven, while the impending monetary policy announcements introduce an element of uncertainty that could further impact its performance.