Silver up 3% after Powell's remarks

Thursday, 29. July 2021 18:31

Precious metals traded mostly higher on Thursday after investors' confidence was seemingly boosted by remarks United States Federal Reserve Chairman Jerome Powell gave yesterday. He noted that the Fed does not detect "substantial further progress" toward its economic targets and that monetary policy measures will not be altered without an "advance notice" beforehand.

Gold advanced 1.41% to $1,832.42 per ounce at 12:29 pm ET. Silver jumped 3.09% to sell for $25.73 per ounce at the same time.

Palladium rose by 0.65% to $2,644.96 per ounce at 12:30 pm ET. Platinum was flat to change hands for $1,068.67 concurrently.

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Breaking the News / MS