Precious metals fell on Wednesday amid stronger US dollar

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Source: Dukascopy Bank
© Scanpix/Reuters
Precious metals tumbled on Wednesday on strong US Dollar and negative headlines from emerging economies as China and India. China is expected to continue targeting slower growth pace in the long-term. Indian CPI increased again thus prompting the central bank to keep its interest rates. Moreover, Fed's decision to stick to the current policies in view of recovering US economy continued to block any upswing of the commodity group. Gold and silver were among the top-losers. The yellow metal crashed below 200-day moving average and core support level on Wednesday. At the same time, silver lost a spree gained due to jump in the industry metals price. Platinum and palladium mostly tracked the gold's suit.


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