Gold prices fall amid optimism over global trade

Gold prices declined following news of a more positive situation surrounding global trade, according to trading data cited by Report.

The price of February gold futures on the New York Comex exchange fell by $29.75 compared to the previous close, or 0.61 percent, to $4,807.21 per troy ounce.

At the same time, March silver futures rose by 1.12 percent to $93.71 per ounce.

The gold market is closely monitoring developments in global trade, as positive signals tend to reduce investor demand for gold as a safe-haven asset. Meanwhile, US President Donald Trump stated that he would not impose 10 percent tariffs on goods from a number of European countries starting in February, noting that the decision was made after a meeting with NATO Secretary General Mark Rutte.