Gold prices experienced a retracement, falling below $3,300, following indications from U.S. President Trump of advancements in trade discussions with Japan and Mexico. This correction occurred after gold reached a new record high of $3,358 during Thursday’s trading session, settling near $3,290. Profit-taking appears to be a contributing factor, spurred by positive developments in U.S. trade negotiations, which have alleviated some concerns regarding global economic instability. However, ongoing U.S.-China trade tensions are expected to provide a floor for gold prices. President Trump highlighted productive discussions with Mexican and Japanese representatives, suggesting a proactive approach to trade negotiations. These developments indicate a potential shift in global market sentiment, driven by the U.S.’s assertive stance in bilateral trade agreements.
