Platinum soared on global easing hopes

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Source: Dukascopy Bank SA
Precious metals rallied on Tuesday amid broadly weaker US Dollar after the IMF lowered the US growth forecast for this year from 2.1% to 2%.

Gold rose on speculation about monetary easing by central banks all over the world. The strongest support was provided by hopes for QE3 after US manufacturing activity unexpectedly contracted in June.

Silver surged amid mixed world equities and global easing hopes. Weaker US Dollar also lifted the commodity price.

Platinum continued to draw strength from the South African supply uncertainty. Moreover, mounting evidence of slowing US economy bolstered the white metal.

Palladium soared on stronger industrial metals pack as US industry orders rose more than expected last month.  Additionally, strong auto sales in the US boosted palladium price.
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