Precious metals fall as pandemic fears ease

Prices of precious metals went from trading higher earlier in the session on Monday to falling over 2% as fears over the coronavirus pandemic subsided after Pfizer and BioNTech announced their COVID-19 vaccine was 90% effective.

Spot gold decreased by 2.06% to $1,912.05 per ounce at 7:41 am ET, while silver dropped 3.22% to $24.77 per ounce at the same time.

Palladium decreased by 1.90% to $2,446.48 per ounce at 7:42 am ET and platinum lost 1.51% at the same time to go for $882.88 per ounce.

Breaking the News / VP