After a significant rally early in the week, gold briefly surpassed the $3,500 mark. However, concerns about escalating tariff wars prompted profit-taking, leading to a sharp decline. Gold prices fell below $3,300 during the US trading session on Wednesday. As geopolitical fears ebb and flow, traders remain watchful of any changes in US-China relations that could influence gold’s path. This brings a period of consolidation as market players adjust their positions, reflecting ongoing uncertainties surrounding global trade.