Silver posts strongest daily percentage gain since February 2021; gold up nearly 2%

Silver futures rallied on Monday, posting a gain of more than 8% for the session — the largest daily rise since February 2021, according to Dow Jones Market Data. Gold prices also climbed by almost 2%. “Out of the two metals, silver was the most impressive…as yields fell on the back of [the Bank of England’s] temporary bond buying programme and disappointing U.S. ISM manufacturing PMI data,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. December silver rose $1.55, or 8.1%, to settle at $20.589 an ounce, the highest most-active contract finish since August. December gold added $30, or 1.8%, to settle at $1,702 an ounce, the highest since mid-September.

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