Platinum climbs on industrial demand outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals rallied on Friday, being boosted by the latest Fed's decision to stick to its loose monetary policy. Weaker greenback coupled with mixed US labour market data also spurred the rally.

Gold moved higher as market players remained focused on the Fed's stimulus measures. Furthermore, strong demand from central banks across the globe as well as weakness in the US Dollar lent support for the yellow metal.

Silver advanced, following the gold's suit after US jobs market numbers. The grey metal jumped near a three-month high in the week ended February 3 on signs of robust demand for 2013 American Eagle silver coins. The US Mint announced sales of silver coins skyrocketed 84% in January compared with the preceding month.

Platinum went up as strong US manufacturing data boosted industrial demand prospects for the precious metal.

Palladium led gains, approaching a 16-month high amid concerns over Russian supplies. Norilsk Nickel, which accounts for 42% of the global palladium production, reported sales of palladium stocks were likely to drop below 100,000 ounces in 2013 and no stocks sales were expected after 2014.
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