Market Reacts to US-China Trade Dialogue

In a significant market movement, precious metals experienced a downturn following positive developments in US-China trade relations. United States President Donald Trump announced the initiation of talks with China, a move that has been met with cautious optimism by investors worldwide.

Detailed Price Movements

Gold saw a notable decrease, dropping by 1.08% to $3,312.81 per ounce by 3:17 am ET. Similarly, silver prices fell by 0.38%, trading at $33.46 per ounce. The trend continued with platinum and palladium, which declined by 1.07% and 0.91% respectively, highlighting a broad-based retreat in the precious metals sector.

Behind the Scenes

Further fueling the market's positive sentiment were reports of China discreetly lifting retaliatory tariffs on certain US-made semiconductors, a gesture seen as a step towards easing trade tensions between the two economic powerhouses.