Gold tumbled amid turmoil in the Euro Zone

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Source: Dukascopy Bank
Precious metals tumbled on Wednesday amid lingering concerns over political and economic crisis in the Euro Zone. Broadly stronger US Dollar also weighed on the commodity pack.

Gold extended previous losses, falling by almost 1% during heavy trading on Wednesday. The Euro Zone's turmoil continued to increase safe-haven appeal of the US Dollar thus creating pressure on the yellow metal.

Silver mostly followed weakness of the global equities. Recent improvement of the US economy also added to losses of the white metal as hopes for easing measures from the Fed vanished.

Platinum and palladium both were lower amid Euro Zone's economic and political uncertainty and potential increase in supplies as Platinum Group Metals Ltd. expanded its Waterberg discovery.

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Thu, 10 May 2012 15:59:10 GMT

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