Gold prices fall to two-week low amid optimism over trade and fading safe-haven appeal.

Gold fell to a two-week low on signs of progress in trade negotiations between the United States and several other countries. Concerns about a weak economy continue to suppress demand for safe-haven assets. The price of gold dropped 2.1% at one point. Gold prices have still risen by 23% so far this year. The main reason for the rise in gold prices is that Trump's rapidly evolving trade policies have driven investors towards safe-haven assets, sparking concerns about global economic slowdown, speculative demand, and support from the buying pressure from the People's Bank of China. Spot gold fell 2% to $3,223.51 per ounce. The Bloomberg Dollar Spot Index rose 0.3%. Silver fell more than 1% and platinum edged lower. Palladium remained relatively flat.