Precious metals fell on Thursday as monetary easing measures over the world failed to provide sufficient support for the commodity group.
Gold declined despite long-awaited global easing measures. The yellow metal continued to move in tandem with the macroeconomic headlines from the US hence positive jobless claims data created strong pressure on the commodity.
Silver dropped on weaker global equities and falling silver holding at the largest silver-backed ETFs. The I-silver holding declined by 0.6%.
Platinum continued to fall, creating a fresh threat to the platinum market as producers are closing platinum mines in view of low white metal's price.
Palladium lost 2.1% after Brazil reported weakness of its automobile industry as auto production and sales continued to dip on a yearly basis in May even after the government introduced tax breaks.