Palladium dips on profit-taking

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals apart from platinum halted their rally on Tuesday as a recent price increase prompted investors to lock in profits. At the same time, broadly weaker US Dollar coupled with speculation that the Fed will continue its easing measures lent some support to the commodity group. Meanwhile, traders awaited the FOMC statement due on Wednesday.

Gold retreated, being pressurized by profit-taking after previous rally. However, the downswing was restricted as hopes that the Fed will stick to its ultra-loose monetary policy continued to lift the yellow metal.

Silver dipped amid mixed global equities and soft greenback. Meanwhile, profit-booking as well as uncertainty over financial health of the Eurozone pushed the grey metal down.

Platinum was the only gainer, being boosted by the US Dollar weakness and anticipation of the Fed comments.

Palladium slid 1.05% on profit-taking. However, the white metal remained the top-performer on monthly basis, rallying 14.29% over the last four weeks.

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