Gold, Silver Sink After US-China Tariff Deal

Gold prices fell nearly 3% to about $3,230 an ounce, reaching their lowest level in a month, after the US and China agreed to sharply reduce tariffs for 90 days. US tariffs on Chinese goods will drop from 145% to 30%, and China's tariffs on US imports will decrease from 125% to 10%, improving global risk appetite and reducing safe-haven demand. Silver also declined over 2% amid the positive trade news. The ongoing ceasefire between India and Pakistan further eased market concerns, though analysts remain cautious about long-term uncertainty and inflation. Despite the recent slide, gold is still up more than 20% for the year, mainly due to earlier trade and geopolitical tensions. Investors are now watching upcoming US economic data for signals on future Federal Reserve actions.