Gold Rebounds as China Denies Ongoing Trade Talks with US

In a surprising turn of events, gold prices experienced a significant rebound this Thursday, following China's announcement that there are no current trade negotiations with the United States. This development has sent ripples through the market, affecting various precious metals differently.

China Calls for Respect from the US

Chinese Foreign Ministry spokesperson Guo Jiakun emphasized the need for the US to halt its threats and approach discussions with respect. This statement comes in response to US President Donald Trump's recent comments, suggesting that the timeline for reducing tariffs on China is contingent upon Beijing's actions.

Market Reactions to the News

As of 4:15 am ET, gold saw an increase of 1.36%, reaching $3,333.25 per ounce. Palladium also experienced a slight gain of 0.29%, priced at $931.11 per ounce. Conversely, silver and platinum faced declines, with silver dropping 0.76% to $33.33 per ounce and platinum decreasing by 0.20% to $973.77 per ounce.