Gold Futures Slump as U.S., China Agree to Substantial Tariff Cuts
1. Gold futures fell 3.6% to $3,223.80 per ounce, lowest since May. 2. U.S. and China lowered tariffs, increasing risk-on market sentiment. 3. Safe-haven demand for gold declined amid geopolitical de-escalation. 4. Ceasefire possibilities emerging in India-Pakistan and Ukraine-Russia conflicts. 5. Gold remains up over 20% this year, driven by previous market volatility.