FX.co ★ Gold Steadies After Sharp Selloff

Gold stabilized at approximately $3,030 per ounce on Monday, following an earlier decline exceeding 1%, which pushed prices to their lowest point in more than three weeks. This initial decline prompted speculation that certain investors were offloading positions to secure profits, potentially to offset losses or meet margin calls caused by sharp downturns in other assets. These declines were spurred by apprehensions that an escalating global trade conflict might drive the economy into recession. Compounding investor anxiety, Federal Reserve Chairman Jerome Powell cautioned that tariffs increased the risk of heightened inflation and decelerated economic growth, highlighting the challenging path ahead for policymakers.