The weaker price action in the platinum group metals led to speculators cutting bullish exposure.

FORBES: FOCUS: Speculators' Net-Long Position In Gold Rebounds Temporarily - CFTC

Silver and the platinum group metals were also weaker with gold.

FORBES: Gold Prices Fall Through $1,400/Oz As Market Breaks Technical Chart Support

Mr. Panetta's stand on the detainee transfers may reflect his long-standing skepticism about prospects for Afghan-Taliban reconciliation, echoing doubts expressed by some military leaders who argue that more pressure is needed to sap the Taliban's fighting spirit and to force the group to the negotiating table in a weaker position.

WSJ: Detainee Deal Stalls Taliban Talks

The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results.

NPR: Stock Market Slips Lower On Weak Earnings

It comes as the group reported a 58% fall in half-year net profit, knocked by weaker metal prices.

BBC: Marius Kloppers

Avnet said the weak profit forecast reflects the lower revenue in the technology solutions group, lower profits margins in the Western regions in electronics marketing due to a weaker sales environment, and a greater-than-expected mix shift in electronics market, with better sales in the lower-margin Asia region more offset by weaker sales in higher-margin Western regions.

FORBES: Avnet Warns On Sept. Qtr; Shares Down; Arrow Also Falls

The report, from the All-Party Parliamentary Group on History and Archives, says many schools regard history as too tough for their weaker students and allow them to drop it after two years at secondary school.

BBC: Overhaul school history, urges report by MPs and peers