Gold price today, May 16 -- Gold is not shining as bright as it once was, as a trade truce between the US and China - the world's two largest economies - has spurred the risk-taking appetite of investors.

After hitting an all-time high levels of Rs.99,358 per 10 grams, the June contracts have lost Rs.7,347 or 7.4% from its peak. In trade today, May 16, gold prices crashed over 1% to slip below the Rs.92,000 mark.

In the US markets, spot gold was down 0.9% to $3,210.19 an ounce. Bullion has lost more than 3% so far this week and is set for its worst weekly performance since November 2024.

"As trade tensions between the US and China eased, gold's appeal as a safe haven diminished. Concerns regarding the long-term effects of the trade war...