9/30, 5:25 PM (Source: TeleTrader)
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Precious metals higher, Gold jumps 2%

Precious metals traded higher on Thursday recovering from losses suffered earlier in the week. Gold jumped over 2% to reach the highest level in a week.

Investors continued to focus on the United States debt ceiling discussions and turned to the yellow metal, seen as a safe-haven asset after US Treasury Secretary Janet Yellen warned the failure to lift the debt limit would cause a financial crisis.

Gold jumped 2.10% to sell for $1,762.84 per ounce at 11:23 am ET and silver rallied 2.96% to go for $22.17 per ounce at the same time after dropping over 4% a day earlier. Platinum added 1.27% to change hands for $966.81 per ounce at 11:24 am ET and palladium climbed 2.89% to sell for $1,911.26 at the same time.

Baha Breaking the News (BBN) / NP