Silver soars 5% as UK detects new COVID strain

Monday, 21. December 2020 08:00

The price of silver surged over 5% on Monday following the news the United Kingdom registered a new "out of control" coronavirus strain in southeastern England. Consequently, several European and North American countries temporarily halted flights with the UK over concerns related to the newly detected strain.

Meanwhile, the American lawmakers are about to finalize the agreement on a new stimulus package worth $900 billion. President Donald Trump once again signed a short-term spending bill to prevent the government shutdown while legislators complete the deal.

Spot silver jumped 5.43% to sell for $27.18 per ounce at 1:45 am ET, rebounding to the level last seen mid-September. Gold also extended gains a minute later, climbing 1.19% to $1,903.17 an ounce to reach the mark registered in early November.

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Breaking the News / ND