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8/26, 12:03 PM (Source: TeleTrader)
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Precious metals trade lower ahead of Jackson Hole

Precious metals traded lower on Thursday as investors awaited the Jackson Hole symposium at which they are expecting to get signals from US Federal Reserve officials on potential tapering plans.

Fed Chair Jerome Powell is set to speak at the virtual summit on Friday. Earlier, the Fed hinted tapering of economic stimulus could come before the end of the year.

Gold lost 0.29% to sell for $1,785.523 per ounce at 6:00 am ET and silver dropped 0.62% to go for $23.69 per ounce at the same time. Platinum fell 0.41% to change hands for $994.36 per ounce at 6:01 am ET and palladium slid 0.87% to sell for $2,408.01 at the same time.

Breaking the News / NP