Gold Price Declines After Tariff Pause Announcement

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Gold Price Declines After Tariff Pause Announcement
Photo: Matthias Schrader

The price of gold drops on Monday following the surge on Friday, which was triggered by Donald Trump's statement on raised tariffs against the EU, according to Bloomberg.

The gold price continues to fluctuate in line with the US President Donald Trump's various statements about tariffs against the rest of the world.

On Friday, when Trump threatened to introduce 50-percent tariffs on goods from the EU, investors sought refuge in gold's safe haven. An ounce of gold cost as much as $3,365 over the weekend.

After Trump announced late on Sunday evening that the tariff pause against the union would continue until July 9, the gold price has, however, turned downward. An ounce of gold costs $3,333 per ounce on Monday morning.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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