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Gold Retreats as Risk Appetite Improves Amid Easing US-China Tensions
Gold Retreats as Risk Appetite Improves Amid Easing US-China Tensions
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Gold’s rally falters as geopolitical tensions ease and the dollar strengthens. The precious metal dropped 0.8% to $3,278.7/oz after hitting a record $3,500.05 on April 22, marking a sharp reversal from its 25% year-to-date gain.
Investors are rotating out of SAFE havens as improved US-China trade relations boost risk assets. The shift comes alongside renewed dollar strength, further pressuring gold demand despite its outperformance versus the S&P 500’s 6% decline this year.
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