Gold, silver climb as JPMorgan wins auction for First Republic business

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Gold and silver prices climbed on Monday following JPMorgan Chase & Co. JPM winning an auction to take over troubled First Republic Bank’s business and deposits, as much of Europe celebrated the May Day holiday.

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Precious metals prices are up, with silver seeing especially pronounced gains, following the government takeover and auction of First Republic Bank, which had teetered on the edge of collapse for weeks.

While…

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