Gold prices in the international market eased slightly on Wednesday as investor sentiment improved after US President Donald Trump announced a trade agreement with Japan.
Spot gold fell 0.2 per cent to $3,423.44 per ounce as of 0136 GMT, after touching its highest level since June 16 earlier in the session. US gold futures were also down 0.2 per cent at $3,437.70.
The market responded to Trump’s announcement that the US and Japan had reached a deal which includes a 15 per cent tariff on Japanese imports. The news lifted investor risk appetite, reducing demand for safe-haven assets such as gold.
Among other precious metals, spot silver slipped 0.3 per cent to $39.15 per ounce, platinum dropped 0.3 per cent to $1,437.83, and palladium declined 0.8 per cent to $1,264.96.
Meanwhile, oil prices edged slightly higher in Asian trading on Wednesday, snapping a three-day losing streak, after a trade agreement between the US and Japan raised hopes of easing tariff tensions.
By 0351 GMT, Brent crude futures had risen by 21 cents, or 0.31 per cent, to $68.80 a barrel, while US West Texas Intermediate (WTI) crude was up 17 cents, or 0.26 per cent, at $65.48.
The modest recovery came after both benchmarks dropped around 1 per cent in the previous session, following EU warnings of potential countermeasures against US tariffs.
