Gold (XAU/USD) trades with a downward bias for the second consecutive day, although it maintains a position above the $3,300 mark during the Asian session on Wednesday. Despite the negative trend, overall market optimism prevails due to rising global equity markets driven by diminishing US-China trade tensions. Investors continue to monitor the interplay between gold prices and equities as they assess their positions going forward. Understanding the macroeconomic environment will help investors determine their next moves in the gold market as tensions ease and new opportunities arise.