10/6/2020, 9:50 PM (Source: TeleTrader)
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Silver, platinum sink 4% as US stimulus talks end

The prices of precious metals posted losses on Tuesday after United States President Donald Trump revealed the negotiations about new economic relief in the United States had been postponed until after the presidential elections.

"I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business," Trump wrote on Twitter, prompting negative reaction on the markets.

The price of silver sank 4.06% to $23.39 per ounce at 3:47 pm ET, while the price in euros tumbled 3.83% to $19.90. Platinum plunged 4.66% to $858.88 an ounce a minute later, and palladium dropped 0.99% to $2,346.19. Meanwhile, spot gold declined 1.23% to $1,889.98.

Breaking the News / ND