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1/4, 9:55 AM (Source: TeleTrader)
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Precious metals rise amid pandemic worries

Prices of precious metals jumped at the start of 2021 with silver and platinum posting the strongest gains.

Investors continued turning to gold and other safe-haven assets amid persisting worries about the coronavirus pandemic. Furthermore, investments in silver, platinum and palladium grew as the world aims to switch to clean energy. Namely, silver is used for manufacturing solar panels, while the auto industry uses platinum and palladium to reduce engine emissions.

Gold rose 1.82% to sell for $1,932.33 per ounce at 3:52 am ET and silver rallied 3.31% to go for $27.26 per ounce at the same time. Palladium added 0.41% to change hands for $2,465.98 per ounce at 3:53 am ET and platinum surged 3.30% to sell for $1,106.13 per ounce at the same time.

Breaking the News / NP