CNBC reported on precious metals trading on Thursday as spot platinum fell 0.9 percent.
As quoted in the market news:
U.S. auto sales rose a lower-than-expected 9 percent in July as high U.S. unemployment and weak consumer confidence kept would-be buyers on the sidelines, denting sentiment in platinum group metals which are used in producing auto catalysts.
Spot platinum lost 0.9 percent to $1,396.49, extending a 1.3-percent decline in the previous session — the biggest daily drop in three weeks. Spot palladium fell nearly 1 percent to $581.15.