11/27/2020, 3:52 PM (Source: TeleTrader)
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Silver sinks 4% as vaccine hopes rise

The price of silver extended losses to drop 4% on Friday as investors' optimism over containing the coronavirus pandemic went up with several coronavirus vaccines expected to enter mass distribution next year.

United States President Donald Trump said that frontline workers, doctors, nurses and seniors across the country are set to receive the vaccine "literally next week and the week after." Meanwhile, the mass vaccination with Russian State Research Center of Virology and Biotechnology's (VECTOR) EpiVacCorona vaccine will likely begin in early 2021, the institute unveiled.

Silver lost 3.13% to trade for $22.60 per ounce at 9:51 am ET, dropping to its lowest level since September 24.

Breaking the News / GA