Silver rose on Thursday as market optimism over a potential COVID-19 vaccine gave way to concerns over the logistics of its eventual roll-out, though prices were underpinned by expectations of further monetary stimulus.
European Central Bank President Christine Lagarde signalled further economic support, with infections expected to spike as winter sets in.
Silver has risen 35% this year amid unprecedented global stimulus during the pandemic.
The intensifying second coronavirus wave is likely to delay the economic recovery process, raising the level of uncertainty and supporting the precious metal.
Silver benefits from widespread stimulus measures because it is viewed as a hedge against inflation and currency debasement.
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