Gold prices edged higher on Monday, regaining some of their losses after a sharp drop last week from record levels above $4,300 per ounce. The decline came after statements from U.S. President Donald Trump that eased trade tensions between the United States and China, pushing investors toward riskier assets.
Spot gold rose 0.4 percent to $4,263.59 per ounce after falling by about 1.8 percent on Friday—its largest one-day drop since mid-May.
Despite Friday’s sharp decline, gold still recorded its best weekly performance since April, after earlier hitting an all-time high of $4,378.69 per ounce.
