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Gold Prices Declined On Monday In Asian Trade, Retreating Further From Record Highs. Reports Suggested That U.S. President Donald Trump’s April 2 Tariffs Might Be Less Severe Than Initially Feared, Reducing Demand For Safe-haven Assets.

A Weaker Dollar Helped Limit Gold’s Decline, While Other Metal Prices Edged Higher. Copper, In Particular, Gained Due To Concerns Over Tighter Global Supplies Caused By U.S. Tariffs And Chinese Smelter Closures.

Gold Prices Remain Near Record Highs Amid Market Shifts

Despite The Pullback, Gold Remained Close To Its Recent Peaks. Spot Gold Fell 0.2% To $3,018.51 Per Ounce, While May Gold Futures Held Steady At $3,049.30 Per Ounce. Prices Reached An All-time High Of $3,057.50 Per Ounce Last Week.

Market Bets On Softer Tariffs Weigh On Gold Prices

Gold Losses Followed A Rise In Wall Street Futures, As Investors Speculated That Trump's Tariffs Would Have A Milder Economic Impact. Reports From Bloomberg And The Wall Street Journal Indicated That Trump Would Not Impose Tariffs On Automobiles, Pharmaceuticals, Semiconductors, And Certain Commodities On April 2.

Instead, Reciprocal Tariffs Are Expected To Target Only 15 Countries With Significant Trade Imbalances With The U.S. However, The White House Has Not Confirmed These Reports, Keeping Market Uncertainty Elevated.

Key Economic Data Could Influence Gold Price Trends

Haven Demand For Gold Remained Stable As Traders Monitored Geopolitical Risks, Including The Ongoing Russia-Ukraine Conflict And Rising Tensions In The Middle East.

Additionally, Several Key U.S. Economic Reports Are Due This Week, Including PMI Data, PCE Price Index Figures, And Revised Q4 GDP Data. These Reports Could Influence The Federal Reserve’s Monetary Policy Outlook.

Copper Prices Surge As Gold Prices Decline Amid Supply Concerns

Copper Prices On The London Metal Exchange Rose 0.6% To $9,927.90 Per Ton, While May Copper Futures Increased 0.3% To $5.1305 Per Pound. The Red Metal Saw Strong Gains Throughout March, Driven By Expectations Of New Stimulus Measures In China, The World’s Top Copper Importer. Meanwhile, gold Prices Decline As Market Sentiment Shifts Toward Industrial Metals.

Trump’s Threat To Impose A 25% Tariff On All U.S. Copper Imports Raised Fears Of Supply Shortages. Additionally, Reports Suggested That Chinese Smelters Might Cut Production, Further Reducing Global Refined Copper Supplies.

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