Stock Market Update
01-May-25 14:00 ET
Gold sinks nearly 3% as stronger dollar, easing trade tensions undercut safe-haven demand
Dow +212.88
at 40882.24,
Nasdaq +353.85
at 17800.19,
S&P +59.18
at 5628.24
[BRIEFING.COM] With about two hours to go on Thursday, the tech-heavy Nasdaq Composite (+2.03%) is holding a commanding lead up more than 350 points.
Gold futures settled $96.90 lower (-2.9%) at $3,222.20/oz, mostly due to a strengthening U.S. dollar and easing global trade tensions, which diminished gold's appeal as a safe-haven asset. President Donald Trump's recent statements about potential trade agreements with India, South Korea, and Japan helped alleviate trade war concerns, contributing to the reduced demand for gold.
Meanwhile, the U.S. Dollar Index is now up +0.6% to $100.26.
