Gold Plunges Below $4,000 As US-China Truce Erodes Haven Demand

Gold Plunges Below $4,000 As US-China Truce Erodes Haven Demand (Image: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Gold slid below $4,000 an ounce, extending losses from the worst rout in over a decade as progress on a US-China trade deal sapped haven demand.

Spot gold fell as much as 3.2% below $3,990 an ounce, following last week’s abrupt halt to rapid advances on concerns the record-breaking rally had run too far. Chinese and US trade negotiators have lined up an array of diplomatic wins for President Donald Trump and counterpart Xi Jinping to unveil at a summit this week. A trade agreement between the world’s two biggest economies may ease some of the economic risks and geopolitical tensions that have bolstered the precious metal.

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