Precious metals sored after Greek debt swap deal

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Source: Dukascopy Bank
Precious metals were higher on Thursday amid depreciating US Dollar and boosted optimism as Greece managed to agree on the debt swap with required number of creditors. Moreover, the commodity group gained momentum after Mario Draghi announced that inflation in the Euro Zone is likely to remain above the target of 2%. Further, expectations that global banks will continue to maintain loose monetary policies also buoyed precious metals pack. However, cut of the projected Euro zone's GDP growth for 2012 escalated concerns over global economic instability and weighted down on the risk appetite. Meanwhile, platinum and palladium tracked the yellow metal's gains. Improved performance of the automobile industry also continued to push up platinum and palladium futures.

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Fri, 09 Mar 2012 18:08:01 GMT

Industry metals mixed amid boosted EU optimism

Base metals were mixed on Thursday along with firmer Euro and stronger equities. Moreover, industry metals caught a spree after Greece announced it managed to secure its bailout package as more than 80% of private creditors sign up for the debt swap deal.  The Eastern part of the world also stimulated metals' price growth as China is expected to reduce

Fri, 09 Mar 2012 15:22:05 GMT

DAX index up on Greek deal and US jobs data

German DAX index climbed on Friday as Greece completed its debt swap agreement and data showed US economy created 227 000 jobs in February. Engineering company Linde AG surged 5.2% after posting a 3.6% increase in 4th quarter profit and predicting better revenue and profit this year. Merck KGaA gained 2% after Deutsche Bank raised share's rating from hold to

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