Gold prices fall to four-week low

Gold, which investors have viewed as a safe haven in recent weeks, has experienced a significant loss in value. US President Donald Trump's announcement that he has signed a trade agreement with China and his statement that a major deal with India is on the way have created a positive atmosphere in the markets. The European Union's announcement that it is also ready to reach an agreement with the US has reduced uncertainty in the markets.

The easing of tensions in the Middle East following a ceasefire has increased investors' risk appetite, leading them to move away from safe havens like gold. With these developments, the ounce price of gold fell by 1.72 percent to 3,255 dollars, dropping to its lowest level in the last four weeks. The price of gold has also fallen below the levels seen before the start of the clashes between Israel and Iran on June 13.

Analysts state that central bank gold purchases have a supportive effect on prices, while the US dollar experienced only a slight decline in value against other currencies. The dollar index was trading at 97.09, down 0.06 percent.

Investors are setting aside concerns about trade disputes and are focusing on artificial intelligence trends, NATO's spending targets, and Germany's infrastructure plans.

News Source: 12punto