1/29, 1:54 PM (Source: TeleTrader)
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Precious metals rise as vaccine delays spark fears

Prices of precious metals moved higher on Friday as the investors turned to safe-haven assets amid the uncertainty prompted by the tumult on the vaccine delivery front, as well as the turmoil on the stock markets.

After the European Commission published a redacted agreement that it signed with AstraZeneca on August 27, a report hinted that agency's President Ursula von der Leyen will meet CEOs of AstraZeneca, Pfizer, Moderna, Sanofi, Johnson & Johnson, BioNTech, and Curevac on Sunday in order to try to find a solution to the vaccine distribution problem.

Silver soared 3.13% at 7:52 am ET to go for $27.39 per ounce. Gold went up by 1.33% to trade at $1,866.88 per ounce a minute later. The price of palladium added 0.06% to sell for $2,338.84 per ounce at 7:53 am ET, and platinum advanced 2.79%, trading for $1,104.45 per ounce a minute after that.

Breaking the News / BU