Precious metals continued yesterday's rally

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Source: Dukascopy Bank
Precious metals continued the previous day's rally, following the release of reports that the IMF is exploring the ways how to boost its lending capacity. Weaker US Dollar after slower than expected US industrial production also contributed to an increase in precious metals' prices. Moreover, GFMS expects the gold to hit $1,640 an ounce in the first half of the year and to rally later in 2012 on the low interest rates and potential monetary easing. Rallying gold and equities are likely to push other precious metals higher, especially silver. However, a decrease in silver holdings of the silver-backed ETF and further economic data releases from the US may create downward pressure on silver price.

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Thu, 19 Jan 2012 14:42:02 GMT

Base metals faced mixed performance on Wednesday

Base metals faced mixed performance on Wednesday as the commodity group balanced on the positive data from the Euro Zone and slower than expected industrial production growth in the US and Japan. Copper, the top performer, was supported by BHP Billiton report of 7% decrease in the metal's output. However, restart of the Grasberg copper mine operations after three-month strike

Thu, 19 Jan 2012 14:54:35 GMT

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