Gold Drops on US-China Tariff Deal
Gold prices dropped 3% to around $3,220 per ounce on Monday morning (0815 GMT) after the US and China announced a rollback of punitive tariffs. The joint statement revealed both countries will significantly reduce tariffs over the next 90 days, with US duties on Chinese goods dropping from 145% to 30%, and China’s from 125% to 10% by May 14. Gold had recently surged past $3,400 amid global trade tensions sparked by sweeping US tariffs introduced in April, CE Report quotes Anadolu Agency
