Thu, 25 Oct 2012 14:05:47 GMT
Palladium was steady after FOMC statement
Precious metals apart from silver moved lower on Wednesday, pressurized by broadly stronger US Dollar. Speaking before German parliament, Mario Draghi warned that the eurozone may face deflation risks. Precious metals, being a traditional inflation hedge, dropped on the ECB president's comments. Meanwhile, the Fed pledged to stick to its loose monetary policy.Gold extended previous losses on strength in greenback