Online reports reported that gold futures prices maintained their decline, giving up all of the gains they rebounded on Friday. However, it is still up nearly 23% year-to-date. Trade Nation analyst David Morrison said in a report that the price of the precious metal soared after President Trump announced a new 50% tariff on the European Union on Friday, but gold prices fell back over the weekend after the Trump administration postponed the tariff for five weeks. Morrison said the strengthening of the US dollar on Tuesday brought further downward pressure. He added that despite declines early in the week, overall dollar weakness and market uncertainty have made gold a defensive investment option for traders.