India, April 14 -- Gold prices retreated on Monday, April 14, after hitting a record high earlier, a development that came about as trade tensions eased, with US President Donald Trump exempting smartphones and computers from the reciprocal tariffs.

As a result, spot gold was down by 0.1 per cent hitting $3,232.45 an ounce. The yellow metal had hit a record high of $3,245.42 earlier. Meanwhile, US gold futures edged 0.1 per cent higher to $3,248.20.

"Softer US dollar has been assisting gold, but news of tech product tariff exemptions lifted risk appetite and caused safe-haven demand to ease," A report by news agency Reuters quoted KCM Trade chief market analyst Tim Waterer as having said. "This has caused gold to lack clear direction."...