Gold prices fall on stronger US dollar and easing trade tensions

Gold prices fell 0.2% on Wednesday, weighed down by a stronger dollar and signs of easing trade tensions between the US and its major trading partners. Investors are now looking ahead to the release of key macroeconomic data from America, which could shed light on potential changes to the Federal Reserve's interest rates. 

The dollar index rose 0.1% against multiple global currencies, making gold less attractive to international buyers.

On Tuesday, US President Donald Trump signed two executive orders designed to alleviate the effects of auto tariffs. Aside from this, White House officials approved a preliminary agreement with a foreign partner, which helped calm investor concerns about the unpredictability of the Trump’s international policies.

China, in turn, waived a 125% tariff on ethane imports from the US imposed earlier this month. 

Market participants are paying close attention to today's Personal Consumption Expenditures (PCE) figures and Friday's Non-Farm Payrolls report. These data will be crucial in assessing how trade dynamics may impact future Fed policy and gold price trends.