Precious metals prices see declines

Gold futures were lower in US trade Wednesday, with June contracts down $4.90 to $682.50 per troy ounce after having traded in a range from $677.50 to $688.90. Spot gold was quoted at $679.50/$680.00 per troy ounce, lower than Tuesday’s late quote of $684.30/$685.80 per troy ounce in New York, while the afternoon fix in London stood at $683.00 per troy ounce.

Other precious metals saw their prices decline on the session as well. July silver was 13 cents lower to close at $13.470 per troy ounce and traded in a range from $13.285 to $13.620. Spot silver was at $13.35/$13.38, and the afternoon fix in London was at $13.45 per troy ounce. July platinum dropped $3.70 to $1,339.50 per troy ounce, and spot platinum was getting $1,324.00/$1,329.00 per troy ounce. June palladium was $5.55 lower to $370.40 per troy ounce, with spot palladium quoted at $368.00/$372.00 per troy ounce.