Market Turbulence Hits Precious Metals

In a surprising turn of events, the price of precious metals saw a significant decline on Friday. This downturn is largely attributed to the ongoing market turbulence, fueled by potential easing in US-China trade disputes. Reports suggest that China is considering duty waivers for certain US products, a move that has had immediate effects on the market.

Detailed Price Movements

Gold led the decline with a 2.30% drop at 9:18 am ET, selling for $3,272.27 per ounce. Silver wasn't far behind, dipping 1.32% a minute later to $33.14 per ounce. Platinum and Palladium also felt the impact, worsening by 0.58% and 0.83% respectively, with prices at $969.96 and $926.72.