Doha: Gold prices slipped from a two-week high on Monday after US President Donald Trump set a July 9 deadline for a trade deal with the European Union, rescinding his earlier threat of a 50% tariff from June 1. Spot gold was down 0.5% at $3,339.13 an ounce. US gold futures fell 0.8% to $3,337.40.
According to Qatar News Agency, gold prices had risen more than 2% to a two-week peak on Friday, supported by safe-haven inflows after Trump recommended 50% tariffs on European Union imports from June 1 and considered a 25% tariff on any Apple iPhones made outside the United States.
Meanwhile, the dollar index fell to a near one-month low against its rivals. A weaker dollar makes greenback-priced gold less expensive for other currency holders. Spot silver eased 0.3% to $33.36 an ounce, platinum edged 0.1% higher to $1,095.90, and palladium gained 0.8% to $1,000.83.