Market Reacts to US-China Trade Discussions

In a notable shift, precious metals experienced a downturn this Friday. The movement followed United States President Donald Trump's announcement regarding the initiation of trade discussions with China. Additionally, reports surfaced about China's subtle adjustments to tariffs on US-made semiconductors, further influencing market sentiments.

Precious Metals See Significant Declines

By 3:17 am ET, gold had plummeted by 1.08%, trading at $3,312.81 per ounce. Not far behind, silver saw a 0.38% decrease, settling at $33.46 per ounce. Platinum and palladium weren't spared either, with drops of 1.07% and 0.91% respectively, highlighting a broad-based retreat in the precious metals sector.