Precious metals climb, palladium hits record high

Donnerstag, 27. Februar 2020 10:26

Safe-haven assets pared gains on Thursday with palladium reaching a fresh all-time high as the coronavirus-caused woes surged globally, pulling the financial markets down.

The death toll from COVID-19 exceeded 2,800 worldwide with more than 82,400 people tested positive for the infection around the globe. The epidemic outbreak in Europe raised investors' concerns as 16 countries in the continent confirmed their first cases of the virus, while it reached South America as well after Brazilian health officials stated that a resident of Sao Paulo, who recently returned to the country from Italy, was infected.

Palladium added 1.02% at 4:22 am ET to go for $2,799.86 per ounce, marking a fresh record high, while platinum gained 0.63% at the same time, changing hands for $918.45 per ounce. Silver was up as well, climbing 0.67% at 4:24 am ET to trade for $18.01 per ounce, while gold increased by 0.54% to sell for $1,645.18 per ounce.

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