Precious metals rally on Fed's decision

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Source: Dukascopy Bank
Precious metals advanced on Wednesday, following Fed's announcement of holding the interest rate at the low level till the end of 2014. Broadly weaker US Dollar and expected increase in physical demand from India ahead of wedding season both lifted precious metals' price. However, uncertainty over Greek debt swap may cap the upswing. ABN AMRO contributed to the increase in some precious metals price by predicting upward potential for silver and palladium. At the same time, the bank expects the gold to tumble in long run and platinum to face near term correction. Currently, platinum price is increasing on the rallying gold and declining platinum stockpiles at the COMEX warehouses.

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Thu, 26 Jan 2012 14:05:01 GMT

Grain commodities jumped; coffee and sugar tumbled

Agricultural commodities faced mixed performance on Wednesday, with grain rallying and coffee and sugar falling. Grain commodities found support on the broadly weaker US Dollar and fears over possible exports curbs by the major producers as Russia and Argentina. Coffee lost 1.22% on Wednesday on the surging coffee stockpiles at ICE Futures Exchange and improved weather conditions in Brazil. Moreover,

Thu, 26 Jan 2012 12:22:09 GMT

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