Platinum Drops as Europe Recession Deepens; Gold Rebounds
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Platinum dropped the most in more than two weeks after a report showed Europe’s recession deepened more than economists forecast, spurring concern that metal demand will ebb. Gold fell to the lowest in more than a month.
Gross domestic product in the euro area fell 0.6 percent in the fourth quarter from the previous three months, the worst performance since the first quarter of 2009. Platinum has climbed 11 percent this year on lower output in South Africa, the world’s biggest producer.