Gold hits 3-week low on easing trade tensions
Gold just hit a three-week low at $3,318.79 per ounce, sliding from early July highs.
The main reason? The US and China are seeking to extend their tariff truce, the US and EU eased up on tariffs too, and the US dollar got stronger—so gold isn't looking like the go-to "safe haven" right now.
Gold prices drop as US-China tariff truce extends
If you watch markets or invest, gold is usually where people park money when things get shaky.
But with global trade tensions easing and the dollar flexing, investors are less interested in gold for now.
Still, everyone's waiting on upcoming US inflation numbers and what the Federal Reserve says next—if things look weak or rates stay low, gold could bounce back.
What about other precious metals?
Precious metals are having a cautious week: silver dipped 0.2%, platinum edged up 0.5%, while palladium dropped 1.2%.
Basically, traders are playing it safe until there's more clarity on where the economy is headed.