Precious metals go up, gold advances by 1%26 Oct 2022 11:53
The prices of precious metals recorded gains on Wednesday, with gold rising by more than 1% and silver by almost 2%. Palladium, on the other hand, registered losses after Apple Inc. reportedly decided to cut the production of its iPhone 14 Pro due to insufficient demand.
The increase in the prices of other metals came after a series of companies, such as Alphabet Inc., Microsoft Corporation, the Coca-Cola Company, and the General Motors Company (GM), posted growth in the third quarter, leading to investors' optimism.
Gold gained 1.06% at 5:35 am ET, 11:35 am CET to sell for $1,670.64 per ounce. At the same time, silver rose by 1.81% to go for $19.70 per ounce. Platinum advanced by 1.96%, selling for $937.57 per ounce. Meanwhile, palladium declined by 0.43% at 5:36 am ET, 11:36 am CET, going for $1,948.81 per share.
Baha Breaking News (BBN) / JR