Gold Rebounds Amidst US-China Trade Tensions

In a surprising turn of events, gold prices experienced a significant rebound on Thursday. This shift followed China's announcement that there are no ongoing trade negotiations with the United States, reigniting fears of a prolonged trade dispute between the two economic giants.

China Calls for Respect from the US

Chinese Foreign Ministry spokesperson Guo Jiakun urged Washington to stop its "threats" and approach future discussions with respect. This statement came in response to US President Donald Trump's recent comments, where he suggested that the timeline for reducing tariffs on China hinges on Beijing's actions.

Market Reactions to the News

At 4:15 am ET, gold prices 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 declined, with silver dropping 0.76% to $33.33 per ounce and platinum falling 0.20% to $973.77 per ounce.