Palladium decreased slightly on 5/12, while all other metals increased slightly.
Trade with China
Though Trump ran a campaign on taking tough action with trade, this week’s trade deal with China saw more compromise occurring. It has eased worry about a potential trade war between the world’s two largest economies. As of last year, the US trade deficit with China was $347 billion, and it’s still unclear if this new deal will do much to narrow that figure. Commerce Secretary Wilbur Ross claims the deal will help bring down the deficit, but no precise estimates were provided. The deal covers the trade of items like beef, poultry, and natural gas.