Muscat: Gold prices dropped today after the US signaled progress on multiple trade agreements and announced extended tariff reprieves for several countries, dampening demand for the safe-haven metal. Spot gold fell 0.6% to $3,314.21 per ounce, as US gold futures were down 0.6% to $3,322.
According to Oman News Agency, spot silver fell 0.8% to $36.81 per ounce, platinum shed 0.8% to $1,380.55, and palladium lost 1% at $1,123.31. These declines in precious metal prices reflect a shift away from traditional safe-haven assets as investors react to the improving trade landscape. The US’s recent moves in trade negotiations have instilled a sense of optimism, reducing the appeal of gold and other metals typically sought during times of uncertainty.