Platinum and palladium prices fell as turmoil in the U.S. auto industry deepened, eroding demand for the metals used in pollution-control devices in cars. General Motors Corp. Chief Executive Officer Fritz Henderson said today in a Bloomberg Television interview that bankruptcy is “probable.” Chrysler LLC is seeking to cancel 789 automotive-dealership agreements, according to papers filed in its bankruptcy proceeding. “Industry consumption in metals is still way off,” said Miguel Perez-Santalla, a sales vice president at Heraeus Precious Metals Management in New York, said in an e-mail. Consumers are “holding off on purchases, adding to the weakening of prices,” he said. Platinum futures for July delivery declined $12.20, or 1.1 percent, to $1,111 an ounce at 11:19 a.m. on the New York Mercantile Exchange. Before today, the price dropped 46 percent in the past year. Palladium futures for June delivery fell $2.30, or 1 percent, to $224.45 an ounce, dropping for the fourth straight day. Before today, the metal tumbled 49 percent in the past 12 months.

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