Gold drops 2.5% after US-UK trade deal

Gold bars

Gold prices deepened losses on Thursday after the US and UK announced a trade agreement, boosting investor hopes of an end to tariff wars.

 

June gold futures settled 2.5% lower at $3,306/oz.

 

This came after US President Donald Trump and UK Prime Minister Keir Starmer revealed a tariff-reduction deal, easing global trade tensions ahead of a US-China meeting in Switzerland.

 

Meanwhile, gold ETFs saw an inflow of 115.3 metric tons worth $11.2 billion in April—the highest since March 2022, World Gold Council data showed.

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