Precious metals rallied amid hopes for new QE in the US

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Source: Dukascopy Bank
Precious metals rallied on Thursday amid softer US Dollar and solid equities. Weak US labour market data spurred speculation on further monetary easing in the country thus pushing precious metals up. At the same time uncertainty over the Euro Zone's stability grew after Italian and Spanish yields increased thus limiting the gains of the commodity pack. Meanwhile, from the supply side the commodity group found support as South African output of precious metals tumbled by 14.5% last month on an annual rate. Gold advanced by 1.01% while silver was the top-gainer, being supported by increased buying of largest silver-backed ETF. Platinum and palladium joined the rally of gold and climbed for the first time in the last four days.

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Fri, 13 Apr 2012 15:08:58 GMT

Base metals advanced on Thursday after US labour market data

Industry metals soared on Thursday, being supported by promising Fed comments about weak state of the US economy. However, pessimistic outlook on the Euro Zone's economy after surging interest rates on Italy's and Span's debt limited the upward trend of the base metals pack. At the same time, traders were cautious ahead of key China's economic data release.  Aluminum was

Fri, 13 Apr 2012 14:06:53 GMT

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