Gold prices continued to decline from last week’s record highs, as a renewed appetite for risk emerged across global markets amid signs of easing trade tensions.

The price of gold fell by 0.84% to around $3,292. Earlier, it had dropped as much as 1.6% to $3,268, losing more than 6% since peaking above $3,500 last Wednesday.

Despite the recent pullback, gold has gained nearly 25% so far this year, outperforming most other major asset classes. This surge has been fueled by aggressive trade policies under the Trump administration and global economic concerns, boosting demand for safe-haven assets. Additional support came from inflows into bullion-backed exchange-traded funds (ETFs), central bank purchases, and signs of strong demand expectations in China, even as actual consumption in the world’s largest buyer declined.

Spot gold dropped 1.1% to $3,283.31 per ounce as of 11:03 a.m. in Singapore, after slipping 0.2% last week. Meanwhile, the Bloomberg Dollar Spot Index rose by 0.1%. Silver, palladium, and platinum prices also declined.