Gold: 1.6% drop for the precious metal

The price of gold showed strong shocks on Tuesday, with the precious metal closing near a two-week low.

Gold futures for April delivery lost $ 31.10, or 1.6%, to close at $ 1,929.70 an ounce on the New York Mercantile Exchange.

Silver also closed with a negative sign, with the May contract losing 14 cents or almost 0.6% at $ 25,158 per ounce. Copper suffered small losses, with the May contract losing 0.2% to $ 4,513 a pound.

April platinum fell 4.7% to $ 1,002.50 an ounce, while palladium June closed 0.2% lower at $ 2,412 an ounce.