Precious Metals

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
Precious metals eased up on Monday on the weaker US Dollar and mixed equities. Moreover, the commodity group gained a spree as Fed is still undecided on whether to embark on the next round of quantitative easing. However, the easing measures are not highly likely taken the steady recovery of the US economy. Gold was the driver for the group but bounced at the slowest pace from the previous tumble. The yellow metal continued to be pressured by the increase in the India's gold import tax. Jewelers in India express protests against the move. Silver, platinum and palladium were also buoyed by growing base metals price. 

Connection between platinum and other precious metals weakened over the day amid controversial announcements of Fed. In the similar fashion, interchange between platinum and the Dow Jones Industry Metals Index (DJUBINTR) decreased from 0.77 to 0.67 along with stabilization in the Euro Zone. Meanwhile, platinum's link to EUR/JPY fell from 0.48 to 0.44 on the broadly stronger Euro.


© Dukascopy Bank
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