INSUBCONTINENT EXCLUSIVE:
Gold prices crashed to $3,237.04 per ounce Monday, shedding 2.7% in their steepest single-day drop this year, after Washington and Beijing
agreed to slash reciprocal tariffs.The US cut duties on Chinese goods from 145% to 30%, while China reduced its levies from 125% to 10%,
Futures on the Multi Commodity Exchange hit ?92,975, down 3.75% overnight.Silver bucked the trend, rising 1.34% to $33.00 per ounce as
industrial demand optimism offset broader precious metal weakness
Technical indicators turned decisively bearish, with the 100-day EMA breached at $3,215.The RSI sank to 41.63, while MACD hit -13.96,
signaling sustained downward momentum
Seventy-nine percent of moving averages now recommend selling
Tariff Truce Erodes Safe-Haven Demand
(Photo Internet reproduction)Dollar strength compounded pressures, with the DXY index hitting a one-month high
Higher Treasury yields further discouraged non-interest-bearing gold holdings.Gold Stalls in Narrow Range as ETF Outflows EaseETF outflows
moderated slightly to ?5.82 crore in April, though AUM still grew 87% year-on-year as long-term investors held positions
Market makers see limited near-term upside.Citi revised its three-month target to $3,150, forecasting range-bound trading between
Despite the rout, physical demand emerged in Chennai where sovereign gold rose ?120 overnight.Analysts caution that tariff reductions expire
in 90 days, leaving room for renewed trade tensions
