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Following confirmation of the US economic downturn by ISM and ADP statistics, gold has recovered from its low. According to US economic data, the economy is cooling, which may require the Fed to take additional action.

While the dollar increased, gold prices saw some profit-booking despite a prediction of declining U.S. GDP due to the nation’s international tariff disputes.

Investors’ reactions to rising trade and geopolitical tensions caused gold to jump nearly 3% and silver to rise 5%.

Gold stabilizes in a range as a court decision overturns Trump’s tariffs, increasing risk appetite and depressing the greenback.

Gold prices saw losses of almost 2%, dropping below $3300, as investors applauded US President Donald Trump’s decision to postpone imposing tariffs on goods from the European Union.

Gold saw profit-booking as safe-haven purchasing eased after U.S. President Donald Trump announced he would postpone his intention to put 50% tariffs on imports from the European Union from June to July.

Amidst persistent concerns about the growing U.S. deficit, gold is still trading at about $3300 thanks to the dollar’s decline, which usually increases the precious metal’s allure as a safe-haven.

As investors looked for safe-haven assets, shifting from government bonds to gold in response to rising fears about the US fiscal outlook, gold climbed toward $3340 to reach a nearly two-week high.

Gold reached almost $3300, close to a two-week high, and continued its more than 2% advance, which was helped by escalating geopolitical threats and the US dollar’s ongoing weakening.

Gold is still struggling, and prices could drop this week as the market takes a wait-and-see stance as the initial reaction to the U.S. credit rating fades, and there is some hope that Ukraine and Russia could reach a truce.