Gold prices correct as trade worries ease

Gold prices sank more than 4% to record their worst weekly drop since November, as risk appetite returned to global markets after the US and China announced a 90-day truce in their trade war.

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The afternoon fixing on Friday in London was $3,182.95 an ounce, compared with $3,324.55 a week earlier. Thai selling prices were quoted at 50,550 baht per baht-weight (15.2 grammes), down 1,400 baht from the previous week.

Spot gold is down 9% from the record high of $3,500.05 set on April 22 when tariff tensions were running high.