Gold prices, which had reached lifetime highs during the US-China trade war under President Donald Trump, are now showing signs of decline. On Monday, gold saw a slight dip as trade tensions appeared to ease. A strengthening US dollar compared to other currencies also contributed to the downward trend.

At 9:05 AM, gold futures for June 5 contracts on MCX were down by 0.18%, trading at ₹94,818 per 10 grams.

In global markets too, gold prices dropped as hopes rose for a positive outcome in US-China trade talks. The US dollar index surged by around 0.3%, putting pressure on gold demand. As a result, gold became more expensive for holders of other currencies.

According to media reports, President Trump mentioned that US officials were in talks with China to reach a favorable trade deal. However, he clarified that he was not considering reducing tariffs on China without significant concessions. On Friday, China announced exemptions from higher tariffs on some US imports, but rejected Trump’s claims that trade negotiations were progressing.