Gold Rebounds as China Denies Ongoing Trade Talks with the US

In a surprising turn of events, gold prices experienced a significant rebound on Thursday. This shift came after China made it clear that there are no current trade negotiations with the United States. The announcement has sent ripples through the market, affecting precious metal prices across the board.

China Calls for Respect from the US

Guo Jiakun, a spokesperson for the Chinese Foreign Ministry, urged the US to stop its "threats" and approach any potential talks with respect. This statement was in response to remarks made by US President Donald Trump, who suggested that the timeline for reducing tariffs on China hinges on Beijing's actions.

Market Reactions to the Standoff

By 4:15 am ET, gold had climbed by 1.36%, reaching $3,333.25 per ounce. Palladium also saw gains, increasing by 0.29% to $931.11 per ounce. Conversely, silver and platinum prices dipped, with silver falling by 0.76% to $33.33 per ounce and platinum decreasing by 0.20% to $973.77 per ounce.