Gold prices fell to their lowest in two weeks on Thursday. The decline comes as the dollar gains strength and trade tensions ease. Investors are also waiting for the upcoming US non-farm payrolls report. Spot gold dropped 1.8% to $3,228.70 an ounce. Meanwhile, US gold futures declined 2.5% to $3,236.10. The stronger dollar makes gold less attractive for buyers holding other currencies. US President Donald Trump mentioned potential trade deals with India, South Korea, and Japan. He wants to turn tariffs into formal trade agreements. As a result, trade war worries eased somewhat. However, market confidence remains fragile. Investors react daily to headlines, which keeps uncertainty high. Record gold prices in April did not boost demand, especially during Indian festivals. Gold is seen as a safe haven in times of political and financial turmoil. It benefits from low interest rates, which help support prices. Still, some analysts say the Federal Reserve’s dovish stance could support gold later. But first, the market needs to recover from April’s sharp price rise. The US economy shrank for the first time in three years in early 2025. This happened as companies rushed to import goods before tariffs. Next, traders focus on the US jobs report due on Friday. The report will give clues about the Fed’s future rate moves. Meanwhile, China’s markets will be closed from May 1 to May 5 for Labour Day. Other precious metals, like silver, platinum, and palladium, also declined today. Silver fell 1.6%, platinum 0.8%, and palladium 0.2%, reflecting cautious market sentiment.