7/7, 12:04 PM (Source: TeleTrader)
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Precious metals up amid new political uncertainties

Precious metals traded higher on Thursday as markets faced prolonged geopolitical volatility on multiple fronts. In the United Kingdom, Prime Minister Boris Johnson is expected to announce his resignation later in the day after over 50 government officials stepped down in protest over his handling of a number of scandals. Meanwhile, Ukrainian President Volodymyr Zelensky claimed Western artillery "started working very powerfully," signaling that the Ukrainian forces will advance into Russian-occupied territory, prolonging the conflict. In the United States, the Federal Reserve stated the monetary policy could become more restrictive in order to fight inflation.

Gold gained 0.23% at 6:01 am ET to sell for $1,743.11 per ounce. At the same time, silver increased by 1.03%, going for $19.40 per ounce. Platinum grew by 1.35% at 6:03 am ET, selling for $871.39 per ounce, while palladium jumped 2.26% to go for $1,961.10 per ounce.

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