Silver steady after previous rally on Thursday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals ended the week on the positive note, drawing strength from long-awaited QE3 announcement made on Thursday. Adding to the positive mood of the commodity group, the greenback continued to depreciate on dismal industrial production data from the US.

Gold approached almost seven-month high, being strongly supported by stimulus program in the US and weak US Dollar.

Silver was flat after sharp rally on Thursday amid surging global equities and persistent concerns over spreading crisis in Eurozone.

Platinum skyrocketed on continuous supply concerns. On Friday, strikers at Lonmin's Marikana mine rejected wage offer while Aquarius Platinum and Xstrata halted their operations at some South African mines amid threats of labour unrest.

Palladium prolonged its 11-day advance on brighter industrial demand prospects after the Fed launched the new round of QE. Mounting hopes that China will loosen its monetary policy also lifted the precious metal.

 

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