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International futures prices of gold and silver plunged during Thursday trading, dropping over five percent and eight percent, respectively.
As the tensions in the Middle East persist and inflation escalates, global markets are under pressure. COMEX gold futures dipped by 5.93 percent to 4,605.70 U.S. dollars per ounce, and silver futures plummeted by 8.22 percent to 71.215 dollars per ounce.
Gold, sliver prices drop sharply
A China Coast Guard (CCG) spokesman announced that, out of humanitarian considerations, Chinese authorities on Tuesday morning permitted the transfer of injured personnel from a Philippine vessel that was illegally "grounded" at China's Ren'ai Jiao in the South China Sea.
Jiang Lue, spokesman for the CCG, said the transfer, under the monitoring of the Chinese side, was conducted via a small boat of a Philippine vessel.
The transfer came a day after Philippine personnel from the illegally grounded Philippine ship LT-57 carried out a malicious provocation, attacking a CCG patrol boat with oars, poles and other tools and injuring a CCG officer's right arm. The CCG responded with maximum restraint, taking lawful measures to stabilize the situation.
The CCG will continue to carry out law-enforcement activities to safeguard China's territorial sovereignty and maritime rights and interests at Ren'ai Jiao and its surrounding waters in accordance with the law, the spokesman added.
China permits injured Philippine personnel transfer from illegally grounded vessel
