Muscat: Gold prices declined today after a US-Vietnam trade deal eased tensions, while investors awaited the US payroll data later in the day for clues about the Federal Reserve’s policy path.

According to Oman News Agency, spot gold lost 0.3% to $3,345.57 per ounce, while US gold futures lost 0.1% to $3,356.60. The decrease in gold prices comes in the wake of a significant trade agreement between the US and Vietnam, which has brought some stability to market dynamics and reduced immediate geopolitical concerns.

Among other precious metals, spot silver fell 0.6% to $36.36 per ounce, platinum lost 0.5% to $1,412.13, and palladium shed 0.4% to $1,150.28. These declines reflect the broader trend in the precious metals market as investors adjust their positions in anticipation of upcoming economic data releases.

The focus remains on the US payroll data, which investors believe could provide insights into the Federal Reserve’s future monetary policy decisions. The data is expected to shed light on the health of the labor market and could influence interest rate expectations, impacting gold and other precious metals prices.