Gold price tumbled for the second consecutive day as traders erased Bullion’s advance on Tuesday, which pushed its gains past the $3,400 figure. The announcement of a US-UK trade deal boosted the US Dollar (USD) to the detriment of XAU/USD, which trades at $ 3,311, down over 1.60%.

Gold price (XAU/USD) turns positive following an intraday slide to the $3,275-3,274 area as geopolitical risks stemming from the Russia-Ukraine war, the escalation of tensions in the Middle East, and the India-Pakistan border revive safe-haven demand.

Gold (XAU/USD) slips to $3,340 at the time of writing on Thursday, a smaller-than 1% correction in safe haven outflow, with United States (US) President Donald Trump expected to announce a trade deal agreement with the United Kingdom (UK) at a news conference at 14:00 GMT in Washington, according to