WASHINGTON (dpa-AFX) - Gold fell below the $3,300 per ounce mark on Monday as signs of easing trade tensions reduced safe-haven demand for bullion.
A stronger dollar also prompted traders to book profits after recent strong gains to record highs.
Spot gold fell nearly 1 percent to $3,285.50 per ounce in early European trade, while U.S. gold futures were down 0.1 percent at $3,295.11.
The dollar inched up and Treasuries were steady after U.S. Treasury Secretary Scott Bessent said the Trump administration is working on bilateral trade deals with 17 key trading partners, not including China, and that Beijing will be forced to the negotiating table.
According to a Time magazine interview published Friday, U.S. President Trump said he would consider it a 'total victory' if the U.S. has high tariffs of 20 percent to 50 percent on foreign countries a year from now.
Trump also said that he expects to wrap up U.S. tariff deals within the next three to four weeks and that he would not drop tariffs on China unless 'they give us something,' adding to the confusion.
In economic releases, the all-important U.S. jobs report, Q1 GDP data and the Federal Reserve's favored inflation gauge, core PCE, are likely to garner investor attention as the week progresses.
April U.S. jobs figures, due on Friday, may show a sharp slowdown in hiring.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
