Precious metals drop on trade news, palladium down 2%

Friday, 08. November 2019 15:49

Prices of precious metals depreciated on Friday as investors remained focused on the global trade disputes. Peter Navarro, White House trade adviser, said the United States can only delay the implementation of new tariffs on Chinese goods, contradicting earlier media reports Washington may remove all existing levies. Meanwhile, European Union Commission President Jean-Claude Juncker stated US President Donald Trump won't place tariffs on cars imported from the bloc.

The price of an ounce of gold fell 0.54% to sell for 1,460.10 dollars at 9:46 am ET. Meanwhile, silver traded 1.66% lower to $16.84 a minute later, while platinum dropped 2.14% to change hands for $889.58 at 9:48 am ET. Palladium tumbled 1.99% against the greenback at 9:47, with an ounce of the metal used often as a catalyst trading for $1,766.68.

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Breaking the News / MD