Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve's policy outlook. Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20. "There is some optimism that there will be some de-escalation of the trade war between the U.S. and China," said David Meger, director of metals trading at High Ridge Futures. "We've seen the equity markets rebound over the course of the last several sessions....
Gold fell nearly 1% on Tuesday as signs of easing U.S.-China trade tensions dampened some demand for the safe-haven asset, while investors braced for key economic data this week to gauge the Federal Reserve's policy outlook. Spot gold fell 0.8% to $3,315.84 an ounce by 2:22 p.m. ET (1822 GMT). U.S. gold futures settled 0.4% lower at $3,333.6. "There's some optimism that there's going to be a bit of a de-escalation in the trade war between the U.S. and China," said David Meger, director of metals trading at High Ridge Futures. President Donald Trump's administration plans to mitigate the...
Oil prices fell about 2% to their lowest in two weeks on Tuesday as investors braced for OPEC+ to raise output and worried that U.S. President Donald Trump's tariffs would hurt the global economy and slow demand for the fuel. Brent crude futures fell $1.61, or 2.4%, to settle at $64.25 a barrel. U.S. West Texas Intermediate (WTI) crude fell $1.63, or 2.6%, to settle at $60.42. Both benchmarks posted their lowest closes since April 10. Trump's aggressive tariffs on U.S. imports have made it more likely the global economy will slip into recession this year, according to a majority of...