Precious Metals: Palladium Drops Nearly One Percent

CNBC reported on precious metals trading on Thursday as spot palladium fell nearly one 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.

Click here to read the full CNBC report.