Chief executives of Walmart, Target and Home Depot reportedly warned Trump that supply chain disruptions were already underway and would lead to empty shelves at U.S. stores in a matter of weeks.

Gold fell for a second day as the White House struck a softer tone on Federal Reserve independence and investors weighed Trump administration comments on trade.

Gold on Wednesday extended its retreat from an all-time high, falling more than 3%, as appetite for riskier assets improved after President Donald Trump said he has no plans to fire the U.S. central bank chief and also signalled progress with China on the tariff front.