On Friday, gold is getting cheaper amid news about trade relations between the United States and China, which is reflected in global market sentiment. June gold futures on the New York stock exchange Comex dropped to $3,316 per troy ounce. The May silver contract also fell in price, dropping 0.59% to $33.38 per ounce. The reason for the decline in quotations was expectations for a change in tariff policy: China is considering the possibility of lifting 125% duties on some American goods, including medical equipment and ethane, which could serve as a step towards reducing tensions between the countries. Nevertheless, White House spokeswoman Carolyn Levitt stressed that the United States does not plan to unilaterally reduce tariffs on Chinese goods. President Donald Trump also announced a possible reduction in duties, but there is no talk of their complete abolition. As a result of the protracted trade standoff, the additional duties of both countries reached 125%. In addition, the US is applying an additional 20% tariff on Chinese goods due to anti-synthetic drug claims.
