By Steve Goldstein, MarketWatch
LONDON (MarketWatch) -- Platinum paced a retreat in metals futures prices on Monday as the surprise timing of an Indian rate hike continued to weigh on markets.
Platinum futures fell 1.6%, or $25, to $1,583.60 an ounce as copper, silver and gold futures also declined.
Gold dropped $4.70 to $1,102.90 an ounce with focus on whether the contract will hold the $1,100 an ounce level.
Gold had dropped 1.8% on Friday.
The rate hike in India weighed on metals prices, as that country is the world's top buyer of gold and as the move ratcheted up expectations that the other fast-growing Asian giant, China, will also soon make a move. See related Asia markets report.
