LONDON: Gold prices dropped more than 2 per cent on Wednesday, hitting an over one-month low, as rising trade optimism boosted risk appetite, leading investors to shift away from bullion.
Spot gold slipped to its lowest since April 11, shedding 2pc to $3,181.62 an ounce, as of 1355 ET (17:55 GMT). Bullion fell as low as $3,174.62 earlier in the session. US gold futures settled 1.8pc lower at $3,188.3.
“The global relief rally sparked by the steep reduction in US-China tariffs has triggered a correction through technical levels in gold,” said Tai Wong, a metals trader.
Published in Dawn, May 15th, 2025
