Gold recovered on Tuesday as bargain-hunters stepped in after prices hit a more than one-week low in the previous session, pressured by a U.S.-China tariff truce that lifted appetite for riskier assets and dented bullion's safe-haven appeal.

The price of gold was tumbling on Monday after the U.S. and China announced a deal to cut tariffs on each other's goods, causing investors to pivot to risk-on assets. Futures prices dropped 3.7% to $3,

Gold prices dropped over 3% to $2,228 per ounce after a temporary tariff rollback between the U.S. and China reduced the metal's appeal as a safe-haven ass