Silver jumps to top $27 first time since 2013

Wednesday, 05. August 2020 13:01

Silver extended gains on Wednesday, continuing the rally from the day before, and crossed the $27-threshold for the first time in seven years amid the fears sparked by the increase of coronavirus cases around the world.

As countries started claiming that they are now experiencing the virus's second wave, and the global COVID-19 death toll surpassed 700,000, the traders started turning to safe-haven assets, propelling the prices of both gold and silver.

The silver surged 3.10%, selling for $26.79 at 7:17 am ET.

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Breaking the News / BU