Market Reacts to Trade Relations Developments

In a surprising turn of events, the prices of precious metals experienced a notable decline this Friday. This shift comes in the wake of United States President Donald Trump's announcement regarding the initiation of trade discussions with China. Adding to the market's optimism are reports from Beijing about the quiet removal of retaliatory tariffs on certain US-made semiconductors.

Detailed Price Movements

At precisely 3:17 am ET, gold witnessed a 1.08% drop, bringing its price down to $3,312.81 per ounce. Not far behind, silver decreased by 0.38%, trading at $33.46 per ounce. The trend continued with platinum falling by 1.07% to $965.13 per ounce by 3:18 am ET, and palladium slipping 0.91% to $925.95 per ounce a minute later.