Gold edged up on Fed policy easing

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals apart from platinum moved higher after the Fed announced additional easing measures and set a threshold for record low interest rates. Rates will remain low as long as unemployment stays above 6.5% and inflation is not higher than 2.5%. However, the effect of FOMC comments was limited as the markets has already priced in Fed policy easing. Meanwhile, weaker greenback added to gains of the commodity group.

Gold climbed on widely-expected Fed decision to expand its asset purchasing plan to USD45 billion a month starting from January.

Silver followed the yellow metal's suit, advancing 1.46%. Softer greenback and slightly stronger global equities spurred the commodity price.

Platinum was the only loser as a previous rally prompted investors to lock in profits. However, the white metal may seek support from a recent decline in global output due to strikes in South Africa.

Palladium inched up amid the Fed comments and broadly softer US Dollar. An expected deficit this year and a few years after also lifted the commodity.
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Thu, 13 Dec 2012 09:15:59 GMT

U.S. shares halt their advance

The U.S. shares erased their earlier gains after Fed Chairman stated the monetary stimulus  alone cannot avert the so called "fiscal cliff" effects of automatic tax hikes and  spending cuts  set to come into force next year. Investors now focus on the progress of budget talks in Washington. The S&P's 500 Index advanced less than 0.1% to 1,428.48 bouncing back

Wed, 12 Dec 2012 18:23:54 GMT

HK equities gain on optimism for a budget deal in the U.S.

Hong Kong shares gained ending at their 16-month highs on speculation that U.S. lawmakers will reach a deal to halt the so called fiscal cliff. Many HK shares inched higher amid foreign investors growing optimism on Chinese economy.  The Hang Seng index inched 0.8% higher to 22,503.35 with gains spread across several sectors. The gauge is 22% up this year.

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