Palladium fell on lack of easing in the US

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Source: Dukascopy Bank SA
Precious metals tumbled on Wednesday as Fed decided not to implement QE at the moment.

Gold fell after the Fed announced that it would not provide additional monetary stimulus and cut the US growth forecast from 2.9% to 2.4% 2012.

Silver followed gold suit and declined by almost 1% as hopes for new round of QE faded.

Platinum dropped after release of FOMC statement. Moreover, South African efforts to improve conditions for platinum mining companies are likely to results in larger output volumes.

Palladium declined as investors were disappointed that Fed decided not to relax its monetary policy further. Slowing US economy is likely to weight down on palladium demand as car sales may decrease.

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