"Headlines over potential, partial exemptions in retaliatory tariffs further boosted sentiment today and allowed gold to dip below US$3,300 ($4,333) levels," said Yuxuan Tang, a strategist at JPMorgan Private Bank. Still, since 2022, gold's dips have usually been quickly bought back, she added.
Gold fell at the end of a volatile week that saw prices notch a record before retreating, with signs some trade tensions may be easing.
Bullion shed as much as 1.9%, dropping for the third time in four sessions and erasing a weekly gain. China is considering the suspension of its 125% tariff on some US imports, people familiar with the matter said. Elsewhere, treasury secretary Scott Bessent said the US and South Korea could reach an "agreement of understanding" on trade as soon as next week.
