Precious Metals Tumble on Downgrade

CNBC reported precious metals fell as the dollar rebounded after credit-ratings agency Fitch downgraded the ratings of Spain and Italy.

As quoted in the market news,

Platinum followed other precious metals lower, down 1.2 percent at $1,487.49. Platinum has lost more than 16 percent over the last month and the price has tumbled to its lowest in nearly two years, after evidence of a slowing euro zone economy, upon which platinum relies for industrial demand, raised fears of another slide into recession.

Click here to read the full CNBC report.