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Gold price falls dramatically: US China tariff cuts bring relief!
Gold price falls due to falling tariffs between USA and China. Experts recommend not selling gold and continuing to monitor the market.
Gold price falls dramatically: US China tariff cuts bring relief!
Gold prices have suffered a dramatic fall after both the US and China temporarily lowered their tariffs on each other. This came as part of efforts to ease the trade conflict. The price fell to a four-week low and reached around $3,233 per troy ounce, down $91 from the previous Friday. In euros, the price of gold also fell by around 52 euros to 2,904 euros per ounce. The tariff reductions are valid for a period of 90 days: US tariffs on Chinese imports will decrease from 145% to 30%, while China's tariffs on US imports will be reduced from 125% to 10%.
The markets reacted positively to this news. Stocks like Maersk's rose around 10 percent. Both the USA and China have held talks in Geneva to resolve the trade dispute. While no specific details were released, both sides showed progress and signaled a possible breakthrough in the trade conflict.
Analyst opinions and future prospects
However, experts warn against selling gold hastily. Experts such as Peter Grant of Zaner Metals see limited downside risks to gold prices, despite current geopolitical tensions and economic uncertainties. He predicts the price to consolidate between $3,500 and $3,200, with a small risk that it could fall to $3,165-$3,150. Tim Hayes and London Stockton have also made similar recommendations to keep the investment in gold.
Additionally, JPMorgan has issued an optimistic forecast, expecting gold to rise above $4,000 per ounce by the summer of 2026, supported by growing gross domestic product. The central banks play a supporting role by supporting the gold price through direct demand and monetary easing.
Overall, the markets are in a phase of uncertainty, “ finance.net " reports that demand for safe-haven assets such as gold has fallen, linking the fall in prices to a decrease in risk aversion. Although the easing of the trade conflict has given a positive impetus, it remains to be seen what further developments will emerge in the next few weeks.
Further information about the current developments in the trade conflict and the impact on the gold market can be found at “ rnd.de “.