8/25, 4:21 PM (Source: TeleTrader)
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Gold, silver decline after upbeat vaccine updates

Precious metals traded lower on Wednesday after the latest coronavirus vaccine updates by Moderna and Johnson & Johnson possibly boosted market sentiment about the global economic prospects and caused investors to shift their focus away from safe-haven assets.

Gold decreased 0.77% to $1,788.88 per ounce at 10:16 am ET. Silver was down 0.70% to sell for $23.70 per ounce at the same time.

Platinum dropped 1.66% to change hands for $997 per ounce a minute later. Palladium lost 1.06% to $2,450.82 per ounce at 10:18 am ET.

Breaking the News / MS