Gold retreated despite demand and supply-side support. AnlgoGold Ashanti suspended production in South African mines amid spreading miners' strikes. Meanwhile, recent IMF data indicated that central banks across the globe continued to increase their gold holdings in July.
Silver dropped on stronger US Dollar after encouraging data releases from the US. Persistent concerns over instability in Eurozone also pressurized the white metal. On Tuesday, Spain faced massive protests over fresh round of austerity measures.
Platinum was the only gainer, drawing strength from spreading labour unrest in South Africa. However, the upswing was capped by rallying US Dollar.
Palladium tumbled the most in the commodity group as global growth fears continued to weight on industrial demand prospects for the metal.