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Gold Prices Dip Amid Economic Slowdown and Trade Tensions

5/2/2025

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Summary

Story summary

Gold prices decreased, closing April 5.9% higher but down $200 from last week's peak of $3500 per ounce amid US-China trade tensions.
The US economy shrank by 0.3% in Q1, with a notable slowdown in job growth.
The World Bank forecasts record average gold prices this year due to geopolitical uncertainties.
China's gold trading volumes fell sharply as markets closed for May Day holidays.

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Story summary

Gold prices decreased, closing April 5.9% higher but down $200 from last week's peak of $3500 per ounce amid US-China trade tensions.
The US economy shrank by 0.3% in Q1, with a notable slowdown in job growth.
The World Bank forecasts record average gold prices this year due to geopolitical uncertainties.
China's gold trading volumes fell sharply as markets closed for May Day holidays.