Palladium falls over 3%, Platinum below $1,000

Tuesday, 21. January 2020 15:07

Precious metals traded in the red on Tuesday as markets face pressure by looming fears over the new coronavirus in China that has killed at least six people so far and infected almost 300. The virus can be fatal and spread through human contact, sparking concerns ahead of the Chinese New Year starting this Saturday, when a mass movement of people is expected.

Palladium lost 3.18% at to go for $2,421.11 at 9:05 am ET. Meanwhile, platinum fell 2.51% at the same time, selling for $993.44 per ounce, its lowest since last Wednesday.

Silver retreated 2.02% at 9:06 am ET, changing hands for $17.71 per ounce, while spot gold sold for $1,551.61 per ounce concurrently, 0.59% in the red.

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