Gold Rebounds as China Denies Trade Talks with US

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

Diplomatic Tensions Escalate

Chinese Foreign Ministry spokesperson Guo Jiakun urged Washington to stop its "threats" and approach Beijing with respect if it wishes to engage in dialogue. This statement was in response to US President Donald Trump's remarks, where he linked the duration of US tariffs on China to Beijing's actions.

Market Reaction

At 4:15 am ET, gold was up by 1.36%, trading at $3,333.25 per ounce. Palladium also saw gains, increasing by 0.29% to $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.