Precious metals trade lower, silver loses 3%

Thursday, 29. October 2020 13:51

Precious metals traded in the red on Thursday as countries reinstated coronavirus lockdowns or considered other measures to curb the pandemic. France placed all its regions on high virus alert, as Germany saw a record number of infections ahead of a partial lockdown.

Meanwhile, investors awaited the newest interest rate decision by the European Central Bank, while the Bank of Japan warned that economic uncertainty remains high.

Silver plummeted 3% at 1:48 pm CET and sold for $22.70 per ounce. Gold was down 0.62% at the same time and went for $1,866.04 per ounce. Palladium dropped 1.78% at 1:50 pm CET, selling for $2,208.97 per ounce, while platinum lost 1.13% and sold for $860.07 at 1:51 pm CET.

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Breaking the News / DJ