Market Turmoil Intensifies as Precious Metals Take a Hit

The selloff in precious metals deepened on Friday, with gold and silver prices dropping significantly. This downturn was fueled by the escalating trade crisis, particularly after China imposed a sweeping 34% tariff on all US goods, further shaking investor confidence.

Price Movements at a Glance

At 1:31 pm ET, gold prices slumped by 3.13%, trading at $3,018.57 per ounce. Silver experienced a more dramatic fall, crashing by 7.83% to $29.36 per ounce. Platinum and palladium also saw declines, with platinum plunging 3.17% to $920.72, and palladium decreasing by 2.04% to $904.85.