Gold and silver prices down as dollar rises

IBTimes reports gold, silver, platinum and palladium continued correcting yesterday, with the current rise in the US dollar causing selling in the precious metals and commodities sectors.

The market news is quoted as saying,

Yesterday the June Comex gold contract lost $17.40 or 1.1%, settling at $1,499.12 per ounce. Silver suffered even more, with July silver falling by $3.13 or 8.2% to $35.34 per ounce. July platinum contracts lost ground by $23.20 to 1,777.70 per ounce at the Nymex, while June palladium contracts fell by $18.70 to $713.95 per ounce.

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