Gold rally extends to silver, platinum

Show notes

The week started on a quiet note in the US and with some weakness in Europe, where many were off due to a religious holiday. But futures are in positive territory this morning as traders return to their desks.
One of the main drivers of optimism is the renewed momentum in US/China trade talks. The first day of the second round of negotiations reportedly went relatively well. There hasn’t been a breakthrough yet, and the talks in London continue today. Still, rumours are circulating that the US may be willing to make concessions on tech exports in exchange for China easing restrictions on rare earth metal exports.
As such, risk assets are up, while safe havens are soft this morning.
In equities, Apple unveiled its new “Liquid Glass” interface at its Worldwide Developers Conference, that failed to impress investors while TSMC released its May sales figures this morning, reporting a strong 39.6% year-on-year gain. The stock rose in Taiwan on the news and may help lift Nvidia at the US open.
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