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12/9/2020, 6:28 PM (Source: TeleTrader)
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Precious metals decline as silver tumbles over 2%

Precious metals extended losses on Wednesday as uncertainties related to the coronavirus pandemic started to diminish over news surrounding COVID-19 vaccine development.

The latest country to approve the vaccine is Canada, as its health regulators okayed Pfizer's candidate earlier today. Investors are also focused on the United States Congress, which is expected to deliver almost $1 trillion relief bill before the end of the year. However, Wall Street is having a volatile session despite somewhat positive sentiment, with indexes pulling into negative territory.

Silver tumbled 2.31% to trade for $23.99 per ounce at 12:26 pm ET, while spot gold lost 1.58% to go for $1,841.11 an ounce. A minute later, platinum dropped 1.22% to $1,016.84 and palladium fell 0.72% to $2,300.96.

Breaking the News / ND