Morning Fourth Road 1️⃣ Cake 93600 nearby Duo, currently 96000.
Trade tensions ease, risk aversion demand decreases, gold prices weaken.
Gold Market Data May 1: Institutional analysis indicates that due to easing trade tensions and decreased risk aversion demand, gold futures have plummeted. The strengthening dollar further dampened enthusiasm for gold as a safe-haven asset, making dollar-denominated commodities more expensive for international buyers. The United States is very likely to reach a trade agreement, and market optimism and risk appetite are rising. However, further losses may be limited, as expectations for interest rate cuts have also been raised following a series of weak economic data from the U.S., with the U.S. economy contracting by 0.3% in the first quarter. Lower interest rates usually stimulate demand for non-yielding gold.
