Precious metals trade lower amid Georgia elections

Wednesday, 06. January 2021 17:16

Following a strong start to the new year, precious metals all traded lower on Wednesday as results of the Georgia Senate runoff elections dominated the news.

Democratic candidates Jon Ossoff and Reverend Raphael Warnock appear to have managed to unseat Republican senators Kelly Loeffler and David Perdue in the two races that took place in Georgia, handing control of the Senate to the Democratic Party.

Gold fell 2.14% to $1,907.86 per ounce at 11:05 am ET, while silver dropped 3.09% to $26.76 at the same time. Meanwhile, platinum lost 2.78% to $1,084.03 an ounce. Palladium was down 2.18% to $2,423.30 per ounce at the time.

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