Precious metals go down, silver falls by 2%

Tuesday, 05. July 2022 15:21

The prices of precious metals experienced declines on Tuesday, with silver and palladium leading the path with a drop of more than 2% and almost 3%, respectively.

The move in the market followed a decrease in stock exchange indexes in Europe and the United States amid worries concerning the effects of Russia's military operation in Ukraine reflected in disheartening performances in Germany and the Eurozone's services sectors and the United States dollar reaching its highest rate against the euro since 2002.

Gold lost 0.75% to sell for $1,794.39 per ounce at 9:18 am ET. At the same time, silver went down by 2.08% to go for $19.56 per ounce. Platinum fell by 2.98%, selling for $864.63 per ounce. A minute later, palladium dropped by 1.49%, going for $1,912.85 per ounce.

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