Platinum declines on China demand worries

Precious metals prices were mixed in New York on Thursday.

January platinum dropped $6.30 to $1,517.50 per troy ounce after China’s central bank raised interest rates there, causing concerns that demand from that Asian nation will decline.

March contracts for palladium was also lower, dropping $2.90 to $358.20 per troy ounce, but it was still up 5.8 percent on the year.

February gold was also lower, dropping $2.50 to $802.90 per troy ounce as the US dollar gained on the euro once again.

Going against the grain was March silver, which added 12 cents to $14.34 per troy ounce.