Gold bars
Gold prices fell on Monday as easing trade tensions weighed on safe-haven demand, after the White House exempted smartphones and computers from reciprocal tariffs.
US gold futures for June delivery dropped 0.6% to $3,226.1 per ounce by 3:36 p.m. Mecca time, while spot gold slipped 0.85%, or $27.45, to $3,210.1 after hitting an all-time high of $3,245.42 earlier in the session.
Silver futures for May delivery rose 0.8% to $32.165 per ounce, and spot platinum gained 0.35% to $945.
"Market sentiment has improved a bit this morning after President Trump excluded electronics and smartphones from US tariffs. This has partly caused a dip in gold prices, likely due to profit-taking," said Zain Vawda, analyst at MarketPulse, a unit of OANDA, according to Reuters.
Still, Vawda noted that a US-China trade agreement remains unlikely in the near term, keeping gold prices elevated on strong demand.
Goldman Sachs raised its year-end gold price forecast to $3,700 per ounce, citing strong central bank buying, robust ETF inflows, and rising recession risks.
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