Platinum sank despite supply worries

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Source: Dukascopy Bank SA
Precious metals were mostly lower on Tuesday after Spain's credit rating was cut by rating agency Egan Jones. Negative news from the Eurozone pushed the EUR/USD below 1.25 creating strong pressure on the commodity pack.

Gold, being highly risk-sensitive at the moment, slid amid growing uncertainty in the Eurozone. However, dismal consumer confidence data from the US restricted the downswing.

 Silver was the top-loser despite stronger global equities and stable ETF buying. The white metal was pressured by record low value of the Euro in view of Spanish and Greek woes.

Platinum moved down despite expected supply disruption as Impala Platinum halted its production because of trade unions disputes at its Rustenburg's mine.

Palladium was the only gainer amid speculation that China will provide additional monetary stimulus to boost economic growth.

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