Precious metals down as US stocks rise

Friday, 05. June 2020 16:52

Prices of precious metals dropped on Friday as investors moved away from safe-haven assets to riskier stocks. Renewed optimism came after better-than-expected jobs data, as well as overall relaxation of measures in place to limit the spread of the coronavirus pandemic.

The price of an ounce of gold fell 2.38% to $1,672.98 at 10:48 am ET. Silver fell 2.59% at the same time to trade for $17.25 per oz, while platinum slid 3.37% to $811.96 per oz. Meanwhile, palladium was trading 0.58% higher a minute later, going for $1,947.76 per oz.

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Breaking the News / MD