Gold Prices Rebound as China Denies Ongoing Trade Talks with US

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

China Calls for Respect from the US

Chinese Foreign Ministry spokesperson Guo Jiakun urged Washington to halt its "threats" and demonstrate respect if it wishes to engage in discussions with Beijing. This statement follows US President Donald Trump's remarks that the timeline for reducing US tariffs on China is contingent upon Beijing's actions.

Market Reaction to the News

At 4:15 am ET, gold saw an increase of 1.36%, trading at $3,333.25 per ounce. Palladium also experienced a slight uptick of 0.29%, reaching $931.11 per ounce. Conversely, silver prices dipped by 0.76% to $33.33 per ounce, and platinum decreased by 0.20%, settling at $973.77 per ounce.