Market Reacts to Trade Talk Optimism

Investors showed a positive response to the latest developments in US-China trade relations, leading to a noticeable dip in precious metal prices. The shift comes after United States President Donald Trump announced the initiation of trade discussions with China, coupled with reports of China easing tariffs on US-made semiconductors.

Price Movements in Detail

Gold experienced a significant drop, decreasing by 1.08% to $3,312.81 per ounce by 3:17 am ET. Similarly, silver saw a 0.38% decline, trading at $33.46 per ounce. The trend continued with platinum and palladium, which fell by 1.07% and 0.91% respectively, highlighting a broad-based retreat in the precious metals market.