Ammon News - Gold recovered on Tuesday on bargain-hunting after prices dropped to a more than one-week low in the previous session as a temporary U.S.-China truce in reciprocal tariffs lifted appetite for riskier assets and dented bullion's safe-haven appeal.

Spot gold rose 0.5% to $3,250.50 an ounce, as of 0458 GMT. Bullion recorded a 2.7% decline in the previous session.

U.S. gold futures were up 0.9% to $3,255.30.

After two days of negotiations in Geneva, U.S. and China announced tariff reductions for the next three months, with U.S. tariffs on Chinese imports dropping from 145% to 30% and Chinese duties on U.S. imports falling to 10% from 125%, leading to a surge in global shares.

The U.S. and China had imposed tit-for-tat tariffs on each other last month, triggering a trade war.

The market is expecting a 55-basis-point rate cut this year by the Fed, starting September.

Spot silver rose 1.3% to $33.02 an ounce, platinum rose 1.1% to $985.31 and palladium was up 0.2% to $947.51. Reuters