<\/p>\n\n\n\n
Gold prices extended declines in Asian trading on Monday<\/strong>, weighed down by renewed optimism surrounding a U.S.\u2013China trade truce<\/strong> that curbed demand for safe-haven assets, even as investors awaited an expected Federal Reserve rate cut<\/strong> later this week.<\/p>\n\n\n\n By 04:44 GMT<\/strong>, spot gold<\/strong> fell 1.3% to $4,060.80 per ounce<\/strong>, while U.S. gold futures<\/strong> declined 1.6% to $4,072.60<\/strong>, marking a continuation of last week\u2019s retreat that snapped a nine-week winning streak<\/strong> fueled by record highs above $4,300<\/strong> per ounce.<\/p>\n\n\n\n The yellow metal came under pressure after U.S. and Chinese negotiators<\/strong> reached a preliminary trade framework<\/strong> over the weekend during ASEAN meetings in Malaysia<\/strong>. The agreement is expected to be finalized at this week\u2019s Trump\u2013Xi summit in South Korea<\/strong>, extending the existing trade truce and potentially paving the way for a broader economic accord<\/strong>.<\/p>\n\n\n\n U.S. Treasury Secretary Scott Bessent<\/strong> said the framework removed the threat of 100% tariffs<\/strong> and China\u2019s global export control measures<\/strong>, signaling that the risk of renewed escalation had largely receded.<\/p>\n\n\n\n The easing of geopolitical and trade tensions encouraged a shift into riskier assets<\/strong>, pulling investors away from gold and other traditional hedges.<\/p>\n\n\n\n Despite the decline, gold\u2019s losses were limited by expectations of monetary easing<\/strong>. Markets are fully pricing in a 25-basis-point rate cut<\/strong> at the Federal Reserve\u2019s October 29 policy meeting<\/strong>, following a softer-than-expected U.S. CPI report<\/strong> last week.<\/p>\n\n\n\n Lower interest rates generally support gold prices<\/strong> by reducing the opportunity cost of holding non-yielding assets<\/strong> and weakening the U.S. dollar<\/strong>, making bullion more attractive to global buyers.<\/p>\n\n\n\n However, analysts noted that the risk-on sentiment<\/strong> stemming from trade optimism and the Fed\u2019s widely anticipated decision<\/strong> may cap near-term upside for the precious metal.<\/p>\n\n\n\n Other precious and industrial metals also moved lower, reflecting the broader improvement in global risk sentiment.<\/p>\n\n\n\n Copper prices were supported by tight global supply<\/strong>, following the ongoing shutdown of Freeport\u2019s Grasberg mine in Indonesia<\/strong> since early September, and optimism that a U.S.\u2013China trade breakthrough<\/strong> could strengthen industrial demand<\/strong>.<\/p>\n\n\n\n Gold traders are expected to tread cautiously ahead of the Federal Reserve\u2019s policy announcement<\/strong>, balancing short-term profit-taking against longer-term support from rate cuts<\/strong> and structural demand<\/strong> from central banks.<\/p>\n","protected":false},"excerpt":{"rendered":" Gold prices extended declines in Asian trading on Monday, weighed down by renewed optimism surrounding a U.S.\u2013China trade truce that curbed demand for safe-haven assets, even as investors awaited an expected Federal Reserve rate cut later this week. By 04:44 GMT, spot gold fell 1.3% to $4,060.80 per ounce, while U.S. gold futures declined 1.6% …<\/p>\n","protected":false},"author":9,"featured_media":99036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[],"class_list":["post-120328","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=120328"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120328\/revisions"}],"predecessor-version":[{"id":120329,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120328\/revisions\/120329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99036"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=120328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\n\n\nTrade Relief Eases Demand for Safe Havens<\/strong><\/h3>\n\n\n\n
\n\n\n\nFed Rate Cut Expectations Provide Limited Support<\/strong><\/h3>\n\n\n\n
\n\n\n\nBroader Metals Mixed; Copper Hits New Record<\/strong><\/h3>\n\n\n\n
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\n\n\n\nOutlook<\/strong><\/h3>\n\n\n\n