Gold, traditionally regarded as a "safe-haven" asset, faced a notable drop of over 2% on Monday, as new developments in the U.S.-China trade negotiations introduced a shift in investor sentiment. A temporary deal between the U.S. and China to reduce tariffs triggered a decline in the price of gold, highlighting how geopolitical and economic factors can quickly alter the dynamics of commodities markets. By 11:32 AM ET (15:32 GMT), spot gold prices had fallen 2.6%, settling at $3,237.04 per ounce. This decline contrasts sharply with the record high reached just a month ago when growing uncertainty around tariffs drove gold to $3,500.05 per ounce.