JAKARTA – Spot market prices for bitcoin and gold weakened in tandem after the United States (US) and China announced the outcome of their tariff negotiations, which took place in Switzerland over the past weekend.

Bitcoin dropped 2.58% to USD 102,128.2 as of 8:42 AM local time on Monday. Previously, on Saturday (10/5), bitcoin had closed at its highest level since February 2025, at USD 104,800.

Meanwhile, the price of gold fell 3.11% to USD 3,221.22 per troy ounce, down from USD 3,324.63 at the close of trading on Friday (9/5).

Nevertheless, bitcoin and gold — traditionally considered safe-haven assets — are still seen as having short-term upside potential.

“There is now more optimism in the market; gold seems to have the potential to rebound along with this optimism,” said BullionVault’s Director of Research, Adrian Ash, as quoted by Reuters, in response to the US-China negotiations over the weekend.

In the trade negotiations, the US and China agreed to reduce import tariffs. US tariffs on Chinese imports were cut to 30% from 145%, while China’s tariffs on US goods were lowered to 10% from 125%.

As previously reported by IDNFinancials.com, US-China trade relations had heated up since early April 2025, following the announcement of reciprocal tariffs by President Donald Trump. (KR/ZH)