Precious metals rallied on Friday amid lower UD Dollar

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Source: Dukascopy Bank
Precious metals, except for palladium, advanced on Friday as slower than expected US economic growth and softer US Dollar stimulated rally started after Fed's monetary policy decision. Palladium, the only loser, followed growth-sensitive base metals' fall. Hedge funds and large speculations increased their net long positions in gold and silver.  However, precious metals started Monday on a negative note amid lower Asian equities and mass credit cuts by Fitch Ratings. Expected optimistic data releases from the US may create additional pressure on the precious metals price.

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Mon, 30 Jan 2012 14:44:07 GMT

Industry metals showed strong sesitivity to US data

Industry metals, except for nickel, tumbled on Friday amid fresh concerns over the Euro Zone crisis after Fitch Ratings downgraded Spain and Italy and EU leaders failed  to agree on the Greek debt swap. Moreover, slower than expected US growth pace fuelled the downward move of base metals. At the same time, increasing cancelled warrants for aluminium, nickel and copper

Mon, 30 Jan 2012 16:47:55 GMT

Dow Jones Index declines as US economy expands less than expected

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