Gold holds steady as tariff truce sparks silver rebound

From home.saxo

The massive de-escalation in tariffs announced by the US and China on Monday saw gold fall back to—but not through—support in the USD 3,200 area, a notable feat in our opinion when considering the near-perfect storm of bearish gold news that met traders Monday morning. While the truce lowered the risk of a recession, supporting a massive risk-on move across other assets—most notably the stock market—the news also helped send the USD higher against its major peers. A ceasefire between Pakistan and India, as well as intense focus on a Russia–Ukraine solution, also helped lower the geopolitical temperature, ... (full story)