Gold futures retraced May's gains after the U.S. and China agreed to a major de-escalation of the trade war. Gold prices fell 3.5% to below $3,229 a troy ounce early Monday. At their

A deal with China is a relief to investors who worried 145% tariffs would severely limit trade, raise prices and hurt the US economy.

Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs. Spot gold was down 3% at $3,225.28 an ounce,