Precious Metals Sink on Eurozone Worries

CNBC reported precious metals fell after it became clear the European Central Bank will not take more dramatic action to repair the region’s debt crisis.

As quoted in the market news:

Among platinum group metals, platinum was down 2 percent at $1,489.75 an ounce.

Platinum is trading at its steepest discount to gold since Reuters began collecting data on platinum’s price in 1985, highlighting the concern among investors over the impact on the global economy from the euro zone crisis.

Click here to read the full CNBC report.