Gold Sees Red as US-China Trade Tensions Start Easing
This week saw the prices of gold and silver futures drop as more reports showed that the U.S. and China’s trade war was easing. July silver prices dropped to $32.44 while June gold declined to $3222.50. The trade war was first reignited when President Trump imposed a 10% tariff on all Chinese imports earlier in February. The tensions were further fueled by the introduction of Trump’s ‘liberation day’ tariffs, which collectively affected America’s trading partners, with some rates hitting as high as 50%. China was the hardest hit, with American tariffs on Chinese imports hitting 145%. In response, China increases…
