Global gold prices fell on April 29 as trade tensions between the United States and its key partners eased. Investors, sensing some stability, began to rely less on gold as a safe-haven asset. Spot gold fell 0.8% to $3,314.65 an ounce.

According to Reuters, the current dynamics are a direct reflection of changes in global trade policy. IG market strategist Yeap Jun Rong noted that the latest signals from global markets suggest an improvement in the overall risk situation. According to the analyst, optimistic rhetoric around the conclusion of new trade agreements gives reason to hope that the worst of the trade conflicts is behind us.

An additional impetus to the decline in the price of gold was provided by statements by US Treasury Secretary Scott Bessant on April 28. He reported that a number of major trading partners of the United States have proposed "very good" options for agreements to avoid the introduction of US tariffs. In particular, India is expected to be one of the first countries to reach agreements. In turn, China has made concessions, exempting some American goods from tariffs, which became a signal of readiness to de-escalate the conflict.

Despite the decrease in trade tensions, many economists warn that the threat of a global recession in 2025 remains high. According to them, the Trump administration's trade policy, in particular the introduction of tariffs, has already had serious consequences for the business environment, including the deterioration of business sentiment.

It is worth noting that just last week the price of gold reached a historical maximum of $ 3,500.05 per ounce. This growth was driven by political and economic instability, which traditionally increases demand for gold as a hedge. Analysts emphasize that the long-term outlook for gold remains favorable, especially given the interest of central banks of developing countries in diversifying their reserves.

Along with gold, other precious metals also fell. Spot silver prices fell by 0.6% to $32.98 per ounce. Platinum fell by 0.2% to $984.65, and palladium fell by 0.5% to $944.34. Such dynamics indicate a broader market trend, which is associated with changes in investor expectations regarding global economic stability.