Precious metals edged lower amid stonger US Dollar

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Source: Dukascopy Bank
Precious metals fell on Friday amid broadly stronger US Dollar after  negative news from the Euro Zone. Moreover, Ben Bernanke's announcement that the second round of quantitative easing in the US is not imminent continued to pressure precious metals' price. However, commodity group was supported by increased buying of the large exchange-traded funds. Gold holdings of the world's largest ETF hit all-times high of 70.76 million ounces. In addition, traders remained bullish about precious metals, increasing their long positions to the half-year high. Palladium and platinum were also exposed to the news that Wallbridge Mining started drilling in three palladium and platinum projects in Canada.

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Mon, 05 Mar 2012 14:44:43 GMT

Industry metals moved down amid weak China's demand

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Mon, 05 Mar 2012 14:02:12 GMT

UK service sector growth slowed in February

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