Gold tumbles below $3300 as trade truce talk dims its shine

Gold lost its luster on Tuesday, diving below $3300 an ounce as easing fears of a US-EU trade war dulled demand for safe havens. MCX gold mirrored the fall, dropping over ₹600 to ₹95300 per 10 grams. With the EU agreeing to fast-track trade talks and President Trump hitting pause on his 50% tariff threat until July 9, investors pivoted away from gold. Still, caution hangs in the air, with eyes on the FOMC Minutes and PCE inflation data this week. Geopolitical tensions and a widening US deficit continue to simmer in the background, keeping traders alert.

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