Gold opened the week facing downward pressure as increasing signals of alleviating global trade tensions diminish demand for safe-haven assets. Over the weekend, the White House announced an unexpected trade agreement with China, creating a buzz in the markets.

The anticipated reductions in trade barriers are expected to lead to greater economic stability, impacting investors’ appetite for gold. As the market reacts, it is evident that many investors prefer higher-risk assets, causing gold prices to slip.

Traders will continue to monitor the progress of trade talks closely as any new developments could further influence gold’s trajectory in the coming weeks.