3/3, 1:01 PM (Source: TeleTrader)
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Precious metals trade lower as Treasury yields gain

Precious metals traded lower on Wednesday under pressure from rising US Treasury yields.

Investors kept a close eye on President Joe Biden's coronavirus relief package worth $1.9 trillion as the bill was headed to the Senate for debate this week.

Gold fell 0.51% to $1,724.21 per ounce at 6:55 am ET, while silver lost 0.42% to $26.59. At the same time, platinum traded just below the flatline at $1,206.78 an ounce as palladium was down 0.64% to $2,358.37 per ounce at the time.

Breaking the News / JC