The prices of precious metals registered losses on Tuesday after investors seemed not to have made a clear decision on how to react to the People's Bank of China (PBoC) announcement about cutting its interest rates by ten basis points and loosening its monetary policy. China is often quoted as the largest gold consumer market in the world.
Gold decreased by 0.94% at 9:56 am ET to sell for $1,931.52 per ounce. At the same time, silver plunged by 3.27% to go for $23.17 per ounce. A minute later, platinum dropped by 1.52% to sell for $963.22 per ounce. Palladium lost 1.63% to go for $1,372.75 per ounce.
