Platinum edges down on solid US Dollar

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals except for palladium dipped on Tuesday amid solid greenback and mixed global equities. Adding pressure on the commodity group, optimism over Greece was offset by lingering worries over the US fiscal cliff. Upbeat US data and fading stimulus hopes in China also weighed on precious metals.

Gold was the top-loser on broadly stronger US Dollar. However, gold may seek support on expected increase in physical demand from India. World Gold Council's India office director, Amresh Acharya, projected gold consumption in India to soar 23% from previous forecast in 2012.

Silver dropped, following the yellow metal's trend. A rally in greenback coupled with waning optimism over long-awaited Greek bailout deal sent silver lower.

Platinum eased down despite potential supply disruption in South Africa as strikes may renew if Anglo American Platinum decides to cut jobs.

Palladium was the only gainer on expectations for a deficit on the global market in 2012 and in the next few years as sales from Russia and South Africa are falling.

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