Gold prices fell on Monday after U.S. President Donald Trump reversed course on his threat to impose 50% tariffs on goods from the European Union from June 1, reducing demand for the safe-haven asset.

Gold prices fell and the U.S. dollar weakened after President Donald Trump extended the 50% tariffs on the European Union on Sunday.

Stocks in both the United States and Japan climbed hard on Monday after President Donald Trump said he would delay the 50% tariffs he previously threatened on goods from the European Union. He made the announcement late Sunday,