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Gold settles and palladium, platinum fall by more than 1 percent

2019-05-13 10:37 am | Resource: NEWS | No Views : 35

Gold settles and palladium, platinum fall by more than 1 percent

 Precious metals traded in the early trading week as palladium fell more than 1% as traders watched the US-China trade war develop.

  Prices of palladium and platinum rice have fallen more than 1% from the week in the red zone, with silver falling more modestly.Last week, the United States raised tariffs on 200 billion dollars of Chinese goods from 10% to 25%.

Wall Street falls pre-marketing, trading in focus

US stocks fell in the pre-Monday market as market watchers absorbed the latest developments in the ongoing trade war between Washington and Beijing. President Donald Trump once again made a number of tough remarks on US-China relations, urging Beijing to "move now" into trade negotiations. Earlier in the day, a spokesman for the Chinese Foreign Ministry said retaliation would be offered "at some point," adding that Beijing "will never surrender to foreign pressure."

Beijing: China is always open to talks with the United States

In China's first reaction, Chinese media said on Sunday that China's door to talks with the United States on trade is always open. However, he noted that Beijing will not back down on important issues in the trade dispute. Beijing said there were no winners in a trade war, but vowed to continue fighting for its own interests.

Earlier, it was reported that Washington had given Beijing one month to reach a trade agreement before the United States went ahead with tariffs on all Chinese imports. According to the editor of Global Times is Shijin, China is not willing to budge from its demands. "The new tariff on the $ 300 billion of Chinese goods is better, which means that the trade war has reached the first turning point, turning from a comprehensive US attack into a stalemate, and the two sides will then compete for endurance. We will make sure we will not lose. "
  • The Dow Jones Industrial Average was down 0.16%
  • While the Nasdaq 100 fell 0.30%.
  • At the same time, the S & P 500 index fell 0.16%.

 Precious Metal trading
  • Platinum traded down 1.26% to $ 854.54 an ounce.
  • Gold was steady at $ 1.285.13 an ounce.
  • Silver lost 0.39% and changed its price to $ 14.72 an ounce.
  • Palladium fell 1.02% to trade at $ 1,340.54 an ounce, shedding gains since Friday afternoon
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