5/16/2018, 5:43 PM (Source:
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Platinum dips to year-to-date low as US stocks rise

Precious metals traded mixed on Wednesday and yields on United States government debt kept rising, while the dollar was flirting with gains against the yen, but it held higher compared to the euro and the pound. Both the joint currency and the spot prices of gold earlier tumbled to the weakest level this year. Stocks in New York were in positive territory after a flat start.

Platinum tumbled 1.39% at 5:39 pm CET to $888.5 per ounce, unseen since December 15, faced with demand-side hurdles due to unfavorable prospects for diesel engines, in which it is used in catalytic converters.

Gold was down 0.17% at $1,288.39 for one troy ounce, following a decline to $1,286.6, last registered on December 27. Silver added just 0.16% to change hands for $16.31 per ounce and palladium advanced 0.41% to $987.

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