© Dukascopy Bank SA
Gold eased as US Dollar strength created heavy pressure on the yellow metal. Meanwhile, gold may be lifted by a seasonal increase in physical demand from China. China's gold imports attained a seven-month high in November and the trend is likely to persist ahead of the festival season.
Silver witnessed mild losses amid solid greenback and uncertainty over the US debt limit debate. However, the downswing was capped by firmness in global equities and hopes for a rebound in industrial demand.
Platinum and Palladium were bullish due to strong supply side fundamentals. Physical markets are likely to face a deficit of both metals this year. Moreover, supply deficit may be further exacerbated by a potential increase in industrial demand amid signs on global economic recovery.
© Dukascopy Bank SA