Precious Metals Retreats on Optimism Solution Is Nearer for Sovereign-Finance Woes

Bloomberg reports that precious metals fell as optimism policy makers are moving closer to resolving debt woes in Europe.

The market news is quoted as saying,

Silver for September delivery in New York slid 3.9 percent to $38.635 an ounce, after yesterday reaching $40.88, the highest level since May 4. Palladium for September delivery fell 1.1 percent to $789.60 an ounce after yesterday touching a five- week high of $803.30. Platinum for October delivery was down 0.4 percent at $1,768.80 an ounce. It climbed to $1,793.80 yesterday, the highest price since June 15.

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