Gold price retreats to one-week low on US tariff delay

Gold prices retreated on Monday as market concerns eased after US President Donald Trump announced an extension to the upcoming tariff deadline while reiterating that several trade deals are in place.

Spot gold was down 0.5% at $3,319.77 per ounce as of 11:30 p.m. ET. Earlier, it had fallen nearly 1% to a one-week low of $3,297.15.

US gold futures also dipped 0.5% to $3,327.80 per ounce in New York.

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Weighing on gold was a stronger US dollar...