Precious metals apart from silver tumbled on Thursday as stronger US Dollar and continuous Eurozone woes added pressure on the commodity group. Better than expected US labour market data coupled with recent Fed decision also weighted down on precious metals.
Gold retreated as larger than expected fall in the US unemployment claims lifted the greenback. Moreover, BoJ decision not to ease monetary policy further pushed the yellow metal down.
Silver was the only gainer despite weakness of the global equities and appreciating US currency.
Platinum declined, being pressured by stronger greenback and weaker global stocks. Lack of additional easing measures from Japan also weighted down on the metal.
Palladium retreated amid global growth fears. However, recovering automobile sales worldwide continued to lend support for the precious metal.