3/12, 5:15 PM (Source: TeleTrader)
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Precious metals decline as US Treasury yields climb

Precious metals traded lower on Friday, with silver losing more than 2% and gold hovering around the $1,700 threshold, as the United States Treasury yields advanced upon the approval of the COVID-19 relief bill.

Fueling hopes for the recovery and driving the sentiment away from the safe-haven assets, US President Joe Biden suggested that all adults in the country will be eligible for a COVID shot come May.

Gold slid 0.75% to $1,710.98 per ounce at 11:14 am ET, while silver dropped 1.92% to $25.63. A minute later, platinum fell 0.43% to $1,194.43 an ounce, while palladium was up 1.03% to $2,374.58 per ounce.

Breaking the News / BU