Gold Suffers Worst Weekly Decline in Six Months Amid Trade Truce and Dollar Strength

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-16 10:57:01

Gold prices are poised for their steepest weekly drop in half a year as a temporary US-China tariff ceasefire and a resurgent dollar erode demand for the traditional safe-haven asset. Spot Gold tumbled to $3,210.19 per ounce, with US futures following suit at $3,213.60.

Market sentiment further deteriorated during President Trump’s Gulf tour, where discussions with Saudi and UAE leaders on artificial intelligence and energy policy fueled speculation about potential trade disruptions. The WHITE House’s abrupt reversal from threatening higher Chinese tariffs to agreeing on a duty pause accelerated the flight from defensive assets.

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