New York: The gold price was hovering today around a low of more than a week, which had been hit the previous session. A US-China agreement to temporarily halt tariffs reciprocally boosted risk appetite and diminished gold’s appeal as a safe haven.
According to Oman News Agency, spot gold remained unchanged at $3,230.99 per ounce, reflecting the market’s cautious stance amid improving economic sentiments following the trade agreement. Despite the stability in spot gold, US Gold Futures experienced a slight rise of 0.2% to $3,235.20, indicating some investor interest in future gains.
In the broader precious metals market, silver spot prices saw a 0.6% increase, reaching $32.78 per ounce. Platinum also experienced a rise, increasing by 0.8% to $982.70 per ounce. Conversely, palladium witnessed a decline, with prices falling by 0.4% to $942.19 per ounce. These movements highlight the varied investor responses to changes in global trade dynamics and their impact on different precious metals.