Following yesterday’s decline, we publish the latest update on gold prices on Tuesday, August 12, 2025, amid noticeable stability in all traded gold carats in the markets at the time of writing. The global gold ounce price recorded a 1.1% decrease, reaching the lowest level at $3357 per ounce after opening today’s trading at $3399 per ounce and currently trading at $3363 per ounce. This decline comes after two weeks of gains where gold reached a two-week high last Friday at $3409 per ounce but failed to stay above $3400, currently targeting support at $3350 and then the 50-day moving average at $3335. The easing of geopolitical tensions surrounding the war in Ukraine contributed to further gold price drops, following Friday’s announcement that US President Donald Trump will meet Russian President Vladimir Putin on August 15 in Alaska to negotiate ending the war.

The easing of the Russia-Ukraine war tensions is expected to reduce market fears and lower demand for safe havens like gold, which caused a significant decline at the start of today’s trading. Additionally, this week will see the release of the US Consumer Price Index data, a core inflation indicator, with expectations that recent tariffs will increase core inflation by 0.3%, pushing the annual rate to 3%, exceeding the Federal Reserve’s 2% inflation target.