Gold prices extended declines in Asian trading on Wednesday

 Gold prices continued their downward trajectory in Asian markets on Wednesday, April 30, 2025, as signs of easing U.S.-China trade tensions and a firmer U.S. dollar dampened the metal's appeal as a safe-haven asset.​

Spot gold fell 0.4% to $3,305.10 per ounce, while June gold futures declined 0.6% to $3,314.94 per ounce. This marks a continued pullback from the record high of over $3,500 reached earlier in April.​

Investing.com

The decline in gold prices follows recent policy moves by the U.S. administration aimed at reducing the impact of auto tariffs, including tax credits and tariff relief on imported materials. Additionally, China's decision to lift tariffs on 125 U.S. imports signaled a willingness to de-escalate trade tensions. ​

These developments have shifted investor sentiment away from safe-haven assets like gold, leading to increased appetite for riskier investments. The U.S. dollar's strength further pressured gold prices by making the metal more expensive for holders of other currencies.​

Despite the recent declines, gold is still poised for a nearly 6% gain in April, marking its fourth consecutive monthly rise. Investors are now awaiting key U.S. economic data, including the personal consumption expenditures (PCE) price index and the monthly jobs report, which could influence the Federal Reserve's interest rate outlook.​

In other precious metals, silver futures slipped 1.3% to $32.855 an ounce, while platinum futures remained steady at $979.05 an ounce. ​

Investing.com

As markets continue to monitor developments in trade negotiations and economic indicators, gold's performance will likely remain sensitive to shifts in investor sentiment and macroeconomic trends.