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4/23, 4:42 PM (Source: TeleTrader)
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Precious metals drop as stocks rise on earnings

The precious metal prices declined on Tuesday as investors favored stocks on Wall Street, following positive earnings reports. Further optimism came from the United States' Census Bureau and the Department of Housing and Urban Development release in which the organization reported a 3% increase in single-family house sales.

Gold fell 0.58% at 10:37 pm ET, selling for $1,267.41 per ounce after sliding to $1,291.37. Silver was 1.54% lower to $14.78 a minute later. Platinum traded 1.15% in the red at $888.69 per ounce at the same time. Likewise, palladium dropped 0.46% to change hands for $1,384.67 per ounce.

Breaking the News / MD