Precious Metals Price Up and Down As Fears of Eurozone Meltdown Grow

IBTimes reports gold prices rose as silver, platinum and palladium prices fell with more disappointing US economic data and bad news from Europe.

The market news is quoted as saying,

Reports confirming a drop in US car sales in May, reductions in manufacturing activity, falling consumer confidence, disappointing data on new private sector job creation from the ADP Jobs Report, as well as the news from Tuesday confirming that the S&P/Case Shiller Housing Index is now below the level seen in April 2009, are causing investors to reevaluate their assessment of the US economy.

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