Sumitomo Metal Mining (5713.JP) closed down 2.39% as gold prices softened from their highs
Sumitomo Metal Mining (5713.JP) closed at 8,180 yen today (22nd), down 2.39% for the day. The previous day, New York gold prices rose 1.5% to reach new highs, but U.S. President Trump announced plans to withdraw additional tariffs of up to 25% on eight European countries including the UK, Germany, and France, causing gold prices to weaken in after-hours trading. The easing of tensions between the U.S. and Europe has led to a growing perception that the market is digesting expectations that gold prices are about to peak
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