Prices of precious metals decreased on Thursday with the investors seemingly worried about the prospects of the United States Federal Reserve deciding to bump up key interest rates in March.
Earlier today, the Bank of England lifted its main rate to 0.5%, while European Central Bank's President Christine Lagarde dodged the question about the timing of the rate changes, but admitted that inflation in the euro area may remain elevated "for longer than expected."
Gold lost 0.22% versus the dollar, and sold for $1,803.86 at 1:25 pm ET, but tumbled 1.3% compared to the euro at the same time, going for €1,578.45 per ounce, mostly due to the discrepancy between the two currencies. Silver surrendered 1.29% and went for $22.38 per ounce a minute later. Platinum went down by 0.5% at 1:27 pm ET to $1,033.11 an ounce, with palladium concurrently dropping 2.09% and going for $2,322.45 per ounce.
