Platinum climbs on industrial demand outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals rallied on Friday, being boosted by the latest Fed's decision to stick to its loose monetary policy. Weaker greenback coupled with mixed US labour market data also spurred the rally.

Gold moved higher as market players remained focused on the Fed's stimulus measures. Furthermore, strong demand from central banks across the globe as well as weakness in the US Dollar lent support for the yellow metal.

Silver advanced, following the gold's suit after US jobs market numbers. The grey metal jumped near a three-month high in the week ended February 3 on signs of robust demand for 2013 American Eagle silver coins. The US Mint announced sales of silver coins skyrocketed 84% in January compared with the preceding month.

Platinum went up as strong US manufacturing data boosted industrial demand prospects for the precious metal.

Palladium led gains, approaching a 16-month high amid concerns over Russian supplies. Norilsk Nickel, which accounts for 42% of the global palladium production, reported sales of palladium stocks were likely to drop below 100,000 ounces in 2013 and no stocks sales were expected after 2014.
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Mon, 04 Feb 2013 09:54:04 GMT

Yen rises on assumption recent drops were too quick

The Japanese Yen gained versus the Euro and trimmed drops against the U.S. Dollar as technical indicators showed recent declines were too rapid. The Yen advanced as much as 0.4% to 126.21 per Euro at 1:50 p.m. in Tokyo from the previous week, when the currency dropped to 126.97, the lowest since April 2010. It rose 0.1% to 92.65 per

Mon, 04 Feb 2013 09:14:07 GMT

Australia's Dollar supported ahead of RBA meeting tomorrow

The Australian Dollar was supported by speculation the Reserve Bank of Australia will keep interest rates unchanged at tomorrow's meeting. The Aussie rose as much as 0.3% to $1.0435 and it fetched 96.79 yen, the strongest level since August 2008, before touching 96.70, up 0.1% from the close last week. Australia's currency fell to NZ$1.2269, the weakest since July 2010,

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