Market Downturn Hits Precious Metals

Gold prices experienced a significant drop on Monday, marking the third consecutive session of decline. The downturn is attributed to escalating trade tensions initiated by President Donald Trump, which have sparked fears of a potential global economic recession. This has led investors to shift away from safe-haven assets, impacting the precious metals market.

Price Movements in Detail

At 11:12 am ET, gold was down by 1.64%, trading at $2,986.81 per ounce. Shortly after, at 11:14 am ET, platinum saw a decrease of 1.22%, reaching $916.21 per ounce, while palladium edged lower by 0.11% to $903.52 per ounce. In contrast, silver prices rose by 1.27% to $30.00 per ounce, showcasing a mixed performance across the precious metals sector.