Gold prices dropped below $3,300 per ounce this week, heading for a nearly 2% weekly decline as traders wait for important U.S. economic data.
The upcoming release of inflation, consumer spending, and wage growth numbers will help investors understand how President Trump’s trade policies are affecting the economy.
Technical trading factors also contributed to the decline, with gold failing twice to break above the $3,328 resistance level.
Despite the recent drop, gold maintains its appeal as a safe investment amid ongoing trade uncertainties with China and new tariff concerns.