Precious metals grow as industrial demand recovers

Monday, 13. July 2020 21:31

Prices of precious metals climbed on Monday amid a recovery in industrial demand following lifting containment measures imposed over the coronavirus outbreak across the globe.

Meanwhile, investors' optimism over further stimulus to the United States' economy went up as Federal Reserve Bank of Dallas President Robert Kaplan asserted there will "certainly" be a "need for more fiscal policy" to curb the COVID-19 impact on the country's economy.

Silver jumped 2.27% to sell for $19.15 per ounce 3:36 pm ET, reaching a 10-month high, while gold added 0.20% at the same time to go for $1,802.78 per ounce. Palladium gained 1.24% at 3:25 pm ET, trading for $1,997.54 per ounce, while platinum went up by 0.56%, selling at $835.69 per ounce at 3:29 pm ET.

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Author:
Breaking the News / GA