9/28, 12:58 PM (Source: TeleTrader)
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Precious metals down as US Treasury yields rise

Precious metals traded lower on Tuesday, with gold landing at its lowest point since mid-August after a continued rise in the United States Treasury yields. Federal Reserve officials hinted yesterday that a reduction of its asset purchases should be expected soon and that "a serious concern" regarding inflation would trigger a response from the Fed.

Gold decreased 0.99% to $1,732.86 per ounce at 6:56 am ET. Silver fell by 1.99% to sell for $22.19 per ounce at the same time.

Platinum lost 1.22% to change hands for $971.84 per ounce at 6:57 am ET. Palladium dropped 1.92% to $1,929.42 per ounce concurrently.

Baha Breaking the News (BBN) / MS