Precious Metals Market Reacts to Trade News

In a surprising turn of events, the prices of precious metals took a downward turn this Friday. This shift comes as investors react to recent statements by United States President Donald Trump regarding the initiation of trade discussions with China. Additionally, reports have surfaced about China's discreet removal of retaliatory tariffs on certain US-made semiconductors, further influencing market sentiments.

Detailed Price Movements

At 3:17 am ET, gold witnessed a 1.08% drop, bringing its price down to $3,312.81 per ounce. Not far behind, silver prices decreased by 0.38%, settling at $33.46 per ounce. The trend continued with platinum and palladium, which fell by 1.07% and 0.91% respectively, with platinum priced at $965.13 and palladium at $925.95 per ounce by 3:19 am ET.