Precious metals rise, silver rallies over 3%

Thursday, 01. October 2020 18:31

Precious metals traded higher on Thursday on investors' hopes the US Republicans and Democrats will reach an agreement on the latest coronavirus stimulus package.

House Speaker Nancy Pelosi noted the two sides are still far apart on some issues but are "coming closer together" in the negotiations. Pelosi is set to continue relief bill talks with Treasury Secretary Steven Mnuchin later in the day.

Gold climbed 1.25% to sell for $1,909.03 per ounce at 12:28 pm ET and silver rallied 3.25% to go for $24 per ounce at 12:29 pm ET. Platinum was up 0.51% to sell for $898.27 at the same time and palladium gained 0.86% to go for $2,331.87 per ounce at 12:30 pm ET.

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Breaking the News / NP