Muscat: Gold prices today fell to their lowest in nearly two weeks, as a framework trade agreement between the United States (US) and European Union (EU) reduced appetite for safe-haven assets. Spot gold was down 0.1% at $3,332.39 per ounce, after touching its lowest level since 17 July 2025. US gold futures edged 0.1% lower to $3,332.50.

According to Oman News Agency, the decline in gold prices comes as investors show increased confidence in the global economic outlook following the US-EU trade framework. The agreement is seen as a positive step towards resolving trade tensions, thereby decreasing the demand for gold, traditionally considered a safe-haven asset during economic uncertainties.

In contrast, other precious metals witnessed slight gains. Spot silver was up 0.1% at $38.17 per ounce. Platinum saw a more significant rise of 0.9%, reaching $1,413.50, while palladium increased by 0.5% to $1,225.25. These movements suggest a varied response to the market conditions influenced by the trade agreement, with some investors shifting their focus to other metals.