Silver steady on solid investment demand

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals were bearish on Wednesday after upbeat US data raised concerns that the US economy is on solid footing. A recovery of the US economy will mean end of the Fed's easing activities that are supportive for precious metals. However, losses were limited by hopes the ECB and BOJ will provide additional monetary stimulus.

Gold retreated from a two-week high after the data showed US retail sales grew faster-than-expected last month. Moreover, weakening investment demand and strong US Dollar weighed on the yellow metal. Investors sold more than 106 tonnes from ETPs last month, the most since 2003.

Silver was flat, balancing between signs of robust investment demand and weakness in gold prices. Silver ETPs holdings jumped 0.3% to attain a record of 19,708 metric tonnes on Wednesday.

Platinum and Palladium declined on solid US Dollar and worries that the Fed may end its growth-boosting measures sooner than expected. At the same time, persistent deficit on physical markets as well as robust car demand across the globe continued to lend support for the metals.
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Thu, 14 Mar 2013 08:53:09 GMT

Aluminum dips despite China's SRB tender

Industrial metals dropped on Wednesday despite better-than-expected data on the US retail sales. However, signs that China's manufacturing activity is slowing coupled with rising China's production of base metals pushed the commodity complex lower. Aluminum was the top-loser despite China's plans to buy the metal for government's stocks. China's State Reserves Bureau issued a tender to buy 300,000 tonnes of aluminum.

Fri, 15 Mar 2013 08:45:10 GMT

U.S. 10-year notes were little changed at 2.02% on Wednesday

U.S. Treasuries erased losses after an auction of 10-year note yields close to the highest level in an eleven-month period bolstering demand of $21 billion of the securities. The notes recorded a yield of 2.029 % compared to preliminary estimated 2.057%, while the benchmark 10-year notes yield was little changed at 2.02% following an increase to a 2.05% earlier on

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