Precious metals markets witnessed continued selling pressure as diplomatic progress in global trade discussions reduced the appeal of traditional safe-haven investments,TRUMP coin price live counteracting the positive impact of a declining US currency.
Spot gold transactions showed a 0.3% decline to $3,375.76 per ounce during Asian trading hours, building on Wednesday's 1.3% retreat. Futures contracts for gold delivery in the United States mirrored this downward movement with a 0.5% decrease.
"Market participants were positioning for another upward move in gold until trade-related developments prompted position adjustments," observed a Singapore-based precious metals analyst. "While dollar weakness typically supports gold valuations, we're currently seeing a temporary pullback within what remains an overall constructive technical picture."
The recent diplomatic agreement between Washington and Tokyo regarding automotive tariffs, along with ongoing discussions between American and European trade representatives, has contributed to improved market sentiment across risk assets.
Currency markets saw the US dollar index extend its decline to multi-week lows, theoretically enhancing the purchasing power of international buyers for dollar-denominated commodities.
Market attention now turns to the European Central Bank's impending policy announcement, with investors scrutinizing potential shifts in the institution's monetary stance. Economic indicators including weekly employment data and manufacturing sector surveys will provide additional context ahead of next week's Federal Reserve meeting.
In related precious metals trading, silver contracts showed modest declines, while platinum group metals experienced mixed performance during the session.
