Market Reacts to US-China Trade Discussions

Investors showed optimism as United States President Donald Trump announced the initiation of trade discussions with China, leading to a noticeable dip in precious metal prices.

Precious Metals See a Decline

By early Friday, gold had dropped by 1.08%, selling at $3,312.81 per ounce. Similarly, silver saw a 0.38% decrease, trading at $33.46 per ounce. Platinum and palladium weren't spared, with declines of 1.07% and 0.91% respectively.

Behind the Price Movements

The adjustments in tariffs by China on certain US-made semiconductors, as reported, played a significant role in the market's positive reception, further influencing the precious metals sector.