Precious metals drop after Putin's remarks on talks11 Mar 2022 11:59
Prices of precious metals, often seen as hedges against inflation and commonly used as safe-haven assets during times of crises, decreased on Friday after Russian President Vladimir Putin hinted at a positive development in the talks between Moscow and Kiev.
The downtrend coincided with a surge across both the European stock markets and their overseas counterparts' premarket trading.
Gold declined by 0.96% at 6:39 am ET, selling for $1,977.43 per ounce, with silver down by 1.22% to $25.66 at the same time. A minute later, platinum dived 1.87% to go for $1,063.74 per ounce, and palladium toppled 3.1%, selling for $2,847.7 per ounce.
Baha Breaking the News (BBN) / BU