RE: POG Action23 Nov 2021 14:15
Prices of precious metals continued to decline on Tuesday as silver and platinum both slid more than 3%.
The decline came after United States President Joe Biden decided to nominate Jerome Powell for a second term as the Federal Reserve chair. The move led investors to expect a rate hike next year and pushed the dollar to 16-month highs, which in turn dragged precious metal prices down.
Spot gold lost 0.97% to sell for $1,787.74 per ounce at 8:44 am ET and silver slumped 3% to go for $23.43 per ounce at 8:45 am ET. Platinum tumbled 3.60% to $978.84 per ounce at 8:44 am ET and palladium fell 1.46% to go for $1,931.58 at the same time.
Breaking the News / NP