Precious Metals: Platinum Slides On Weak Global Data

Reuters reported on precious metals trading on Wednesday as platinum slid on weak manufacturing data around the world.

As quoted in the market news:

Platinum group metals were under pressure after major automakers reported U.S. auto sales for July that were somewhat softer than expected as high U.S. unemployment and weak consumer confidence kept would-be buyers on the sidelines.

Platinum dropped 1 percent to $1,395.74 an ounce and palladium was down 0.9 percent at $580.75 an ounce.

Click here to read the full Reuters report.