1/28, 4:12 PM (Source: TeleTrader)
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Precious metals rise, silver surges over 5%

Prices of precious metals traded higher on Thursday with silver jumping more than 5% as investors turned to safe-haven assets following markets selloff on Wednesday.

Meanwhile, the coronavirus pandemic remained in focus as investors' hopes over curbing the spread of the virus went down on the latest news related to vaccines. Germany's Robert Koch Institute (RKI) warned persons over the age of 65 against receiving AstraZeneca's COVID-19 jab, while the country's Health Minister Jens Spahn noted Germany could face a vaccine shortage for another 10 weeks.

Silver soared 4.30% at 10:03 am ET to go for $26.29 per ounce, hitting its highest level since January 8. Gold went up by 0.72% to trade at $1,854.11 per ounce concurrently. The price of palladium added 0.84% to sell for $2,330.30 per ounce at 10:05 am ET, and platinum grew 1.66%, trading for $1,086.04 per ounce at the same time.

Breaking the News / GA