Precious metals drop, silver down over 5%

Friday, 08. January 2021 16:23

Precious metals traded with losses on Friday as the dollar gained and demand for safe-haven assets weakened.

Gold was down nearly 3%, while silver dropped over 5%, setting both metals on track for weekly declines amid a more upbeat market sentiment.

Gold fell 2.97% to $1,856.75 per ounce at 10:30 am ET, while silver dropped 5.17% to $25.78 at the same time. Meanwhile, platinum lost 3.91% to $1,077.82 an ounce. Palladium was down 2.84% to $2,360.66 per ounce at the time.

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Author:
Breaking the News / JC