Golden heads for weekly loss, as trade conversations help facilitate demand for demand | Einsmark news

(Bloomberg) -Gold was on his way to its second direct weekly loss, as progress on global trade talks and rising US consumer sentiment helped reduce the appeal for the safe haven asset. The US consumer sentiment rose sharply in June to a peak of four months and inflation expectations improved especially as concerns about economic prospects and personal finances were alleviated. Meanwhile, the European Union and the US are confident that they could conclude a form of a trade agreement before a July 9 deadline, while China confirmed details of a trade framework with Washington. The progress on the trading front has helped improve investor sentiment for risks such as shares, while the demand for gold demand for gold. The precious metal fell by as much as 2.2% to $ 3,255.94 per gram on Friday, the lowest intraday level since May 29. Shares of precious metal miners also dropped, with Agnico Eagle Mines Ltd. Up to 5.9% and AngloGold Ashanti PLC fell 6.3%. Bullion remains almost 25% this year and is more than $ 220 away from its record height reached in April. Along with geopolitical and trade tensions, it is supported by a strong buy of the central bank and increased optimism preparing the Federal Reserve to resume the financial relief. Platinum plunged as much as 6.8% on Friday and wiped out the profits the white metal saw this week. Prices have been volatile in recent months, and hit the highest level in more than a decade on Thursday, as the London and Zurich Spot Market struggled with a close availability, which appears to be from forward prices traded below the place. Gold was 1.6% lower to $ 3,274.83 from 11:57 in New York, with a weekly loss of 2.8%. The Bloomberg Dollar Spot Index has been changed. Silver also fell while palladium was flat. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP