Odaily Planet Daily reported that spot gold fell 3.00% during the day and is now trading at $3,988.70 per ounce.

Analysts believe that gold prices have fallen as signs of easing trade tensions dampened demand for safe-haven assets. Spot gold prices dipped to $4,000 per ounce. Despite the pullback, gold prices are still up over 55% this year. Mitsubishi UFJ analyst Soojin Kim said, "Attention now turns to the busy central bank calendar, with interest rate decisions from the Federal Reserve, the European Central Bank, and the Bank of Japan. Further monetary easing by these central banks could provide new support for non-interest-bearing assets like gold." The market generally expects the Federal Reserve to announce its second interest rate cut of the year on Wednesday, following weaker-than-expected inflation data released last Friday. (Jinshi)