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Precious metals, except for palladium, tumbled after Standard & Poor's downgraded credit rating of nine Euro Zone members on Friday. Silver and gold were among the top losers while palladium gained 0.31% indicating its resilience to economic outlook on the Euro Zone. Investors' sentiment also was dampened by the Shanghai Gold Exchange decision to raise margins and daily trading limits on precious metals. However, dip buying is expected to limit the downside of the yellow metal's price. Gold is likely to continue balancing between demand for safe haven assets and the trend in the US Dollar.