8/12/2020, 5:48 PM (Source: TeleTrader)
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Silver jumps 4% to recover some of yesterday's losses

The price of silver jumped over 4% on Wednesday, to recover some of the losses it recorded yesterday after optimistic vaccine news came from Russia.

Amid the coronavirus pandemic, the precious metals have come into the investors' focus, which led gold to its all-time high the previous week, and silver to its 7-year best of $29.86 last Friday. Vaccine announcement spurred optimism regarding economic recovery and prompted a significant sentiment change during the yesterday's trading session.

Silver gained 4.13% at 11:44 am ET, selling for $25.84 per ounce, while gold advanced by 1.62% a minute later, to go for $1,942.95 per ounce. Platinum and palladium rose by 0.66% and 1.11% at 11:46 am ET, to sell for $942.11 and $2,121.48, respectively.

Breaking the News / BU