Market Reacts to US-China Trade Developments

In a surprising turn of events, the prices of precious metals saw a significant decline this Friday. This shift comes in the wake of United States President Donald Trump's announcement that the US has initiated discussions with China regarding trade relations. Adding to the market's optimism, reports have emerged that Beijing is quietly removing retaliatory tariffs on some US-made semiconductors.

Precious Metals Prices at a Glance

Gold experienced a notable drop, decreasing by 1.08% to $3,312.81 per ounce by 3:17 am ET. Similarly, silver prices fell by 0.38%, settling at $33.46 per ounce. Not far behind, platinum and palladium also saw declines, with platinum dropping by 1.07% to $965.13 per ounce and palladium slipping by 0.91% to $925.95 per ounce by 3:19 am ET.