Gold Price Retreats Sharply, Snap Two-Day Winning Streak

Gold prices (XAUUSD) faced heavy selling pressure during the Asian session, retreating sharply from a two-week peak of approximately $3,434-3,435 reached recently. This decline comes amidst optimistic sentiment surrounding upcoming US-China trade discussions scheduled in Switzerland.

The market’s risk appetite has shifted significantly, resulting in lower demand for gold as a safe-haven asset. As geopolitical uncertainties persist, the precious metal remains volatile, causing traders to reassess their strategies. This episode highlights the importance of monitoring economic and political developments influencing market dynamics.

Looking ahead, investors should stay informed about trade discussions that could impact gold’s direction and the global market.