Gold for April delivery fell $15.50 to $1,325.80 an ounce, a drop of 1.2%, in electronic trading. That comes on the heels of a 1.3% fall on Wednesday. The Federal Reserve’s decision to continue to taper its bond-buying program and also expectations about when the Fed will hike rates next.Silver prices were taking an even bigger hit, with May silver losing 49 cents, or 2.3%, to end $20.35 an ounce, after just a slight fall on Wednesday.April platinum fell $13.40, or 1%, to settle at $1,438.30 an ounce, while June Palladium fell $18.20, or 2.4%, to $750 an ounce
Copper's fortunes are closely tied to the Chinese economy, over which worries have been rife. Goldman Sachs became the latest investment bank to downgrade its growth forecasts for China, saying it now sees 2014 growth at 7.3%, versus a prior 7.6%, saying the government’s reform agenda poses risks on both sides.