Gold slips as investors monitor trade developments

Gold bars

Gold prices fell on Tuesday as investors tracked developments in global trade tensions and looked ahead to key US economic data that could influence the outlook for interest rates.

The decline came amid reports that the US administration is planning to ease the impact of tariffs on domestic car manufacturers by lowering some levies on imported parts used in locally assembled vehicles.

Tensions with China also remained in focus. Beijing urged countries to stand against what it called US President Donald Trump’s tariff threats and vowed not to back down amid escalating trade pressure.

June gold futures dropped 0.45%, or $15.2, to $3,332.5 an ounce as of 9:34 a.m. Mecca time. Spot gold was down 0.61%, or $20.54, at $3,323.44.

Silver futures for July delivery edged down 0.08% to $33.3 an ounce, while spot platinum held steady at $990.19.

Meanwhile, the US dollar strengthened, with the dollar index—which measures the greenback against a basket of six major currencies—rising 0.17% to 99.18.

Investors are awaiting key US economic indicators this week, including the personal consumption expenditures (PCE) price index due Wednesday and the closely watched nonfarm payrolls report on Friday.