Market Reacts to US-China Trade Tensions

In a significant market movement, precious metals, especially gold, witnessed a notable increase. This surge comes in the wake of the United States imposing hefty tariffs on Chinese goods, a move that has escalated trade tensions between the two economic giants.

Beijing's Stance and Market Stabilization Efforts

China has vowed to resist these tariffs "to the end," with state-owned enterprises ramping up investments to stabilize the markets. Meanwhile, accusations of currency manipulation by China have been leveled by the US, adding another layer to the ongoing trade dispute.

Precious Metals Performance

Gold prices climbed by 1.08% to $3,015.73 per ounce, while silver remained steady at $29.82 per ounce. Platinum and palladium also saw modest gains, highlighting the market's reactive nature to global trade developments.