Precious metals tumbled on Tuesday on weaker Euro as uncertainties in the Eurozone continued to mount. Moreover, Fed member denied rumours about extension of asset-purchasing programme thus sending the commodity group lower.
Gold moved lower after Italian PM said that additional backup may be needed to reduce Italy's borrowing costs.
Silver followed gold's suit, falling by 1.96%. Mixed equities and an increase in the I-share silver holdings created slight support for the white metal.
Platinum extended previous losses on the potential supply increase. South African officials are making steps towards improving business conditions for platinum miners.
Palladium dropped amid weakness of the base metals pack. Adding pressure on the metal, US Dollar index rose 0.28% over the day.