Gold, silver rise on Powell’s hints of tapering
Prices of precious metals increased on Friday as the investors digested the remarks made by United States Federal Reserve Chair Jerome Powell.
Powel conveyed that the coronavirus’ Delta variant impacted the central bank’s position on asset purchases, but hinted that tapering could be in the cards in the case the economy grows as “broadly as anticipated.”
Gold went up by 0.87% to sell for $1,807.36 per ounce at 11:01 am ET, while silver gained 1.67% to $23.94 a minute later. Platinum soared 2.53% to $1,007.17 an ounce at 11:03 am ET, with palladium concurrently up by 1.51% to $2,428.99 per ounce.
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