(Bloomberg) -- Platinum fell in New York for the
third time in four days as gains by the dollar eroded the
investment appeal of precious metals. Palladium also declined.
The price of platinum has slumped 4.2 percent from a record
$1,353.80 an ounce on May 7. The dollar has climbed 1.6 percent
against the euro this month after falling to a record in late
April. The U.S. currency gained today after a government report
showed purchases of new homes in the U.S. exceeded economists'
forecasts last month.
Read more at Bloomberg Commodities News
third time in four days as gains by the dollar eroded the
investment appeal of precious metals. Palladium also declined.
The price of platinum has slumped 4.2 percent from a record
$1,353.80 an ounce on May 7. The dollar has climbed 1.6 percent
against the euro this month after falling to a record in late
April. The U.S. currency gained today after a government report
showed purchases of new homes in the U.S. exceeded economists'
forecasts last month.
Read more at Bloomberg Commodities News
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