Group 1 - The recent easing of international trade tensions has led to a rapid recovery in market risk appetite, resulting in a significant decline in gold prices, with London gold spot prices dropping 3.66% to $3202.2 per ounce and COMEX gold futures falling 3.72% to $3205 per ounce [2] - Analysts indicate that the adjustment in precious metal prices is primarily due to the unexpected extent of the easing in trade tensions, prompting a shift of funds from safe-haven assets to riskier assets [2][3] - The geopolitical landscape has also contributed to the decline in gold prices, with expectations of improved U.S.-Iran relations and a reduction in tensions between India and Pakistan [3] Group 2 - Speculative net long positions in COMEX gold decreased by 1,300 contracts to 161,200 contracts, while the long-to-short ratio rebounded by 1.6% [3] - The outlook for precious metals remains mixed, with key resistance levels providing support, and expectations of a shift in U.S. Federal Reserve policy potentially limiting further price declines [3][4] - The market is advised to monitor changes in U.S. Treasury yields, as recent political disagreements have impacted market expectations significantly [5]