The price of Gold (XAUUSD) saw a significant decline at the start of the European trading session on Tuesday (October 28, 2025). As of 3:40 PM WIB, Gold reached $3,900.93 per troy ounce. This drop represents a decrease of nearly $80 or 800 pips compared to its closing price on Monday.
The allure of Gold as a safe haven asset appears to be diminishing, fueled by optimism surrounding a trade agreement between the United States (US) and China. Recent trade negotiations have shown encouraging outcomes over the past few days.
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Furthermore, US President Donald Trump and Chinese President Xi Jinping are set to meet in South Korea on October 30.
Gold prices soared earlier this month, reaching an all-time high of $4,381 per troy ounce on October 10. This surge was driven by President Trump’s decision to increase import tariffs on China by 100%, effective November 1.
The potential for a trade agreement means that China could avoid these tariff hikes, thus reducing the risks associated with the trade conflict between the two nations. This development has led to ongoing profit-taking actions and selling pressure on Gold, particularly given its impressive 67% increase over the year.
