Precious Metals Drop as Equity Rebound Trims Demand From Investors

Bloomberg reported precious metals dropped as a rebound in global equities eroded demand for an alternative assets while palladium rose.

The market news is quoted as saying,

On the New York Mercantile Exchange, platinum futures for October delivery declined $29.50, or 1.6 percent, to $1,828.70 an ounce, the biggest fall since Aug. 24. Palladium futures for December delivery gained $3.15, or 0.4 percent, to $752.70 an ounce on the Nymex, rising for the first time in four sessions.

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