An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Dec. 22, 2023. - Photographer: Chalinee Thirasupa/Bloomberg
Gold prices fell more than 2% on Wednesday as U.S. President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell and expressed optimism for a trade deal with top metals consumer China, denting bullion's safe-haven appeal.
Spot gold declined 2.2% to $3,308.81 an ounce as of 0704 GMT. U.S. gold futures shed 2.9% to $3,320.30.
