Silver moved up on stronger Euro

Source: Dukascopy Bank SA
Precious metals were mixed on Friday as risk-aversion eased after the ECB announced it would relax collateral rules for banks to facilitate borrowing.

Gold managed to climb by almost 0.4% as Germany, France, Italy and Spain have agreed on a 130 billion Euros package to boost growth. However, the upside was capped as Fed said that it is not going implement QE in the nearest term.

Silver eased up, following gold's suit on Friday. The white metal found support on slightly stronger global equities and solid Euro. Meanwhile, I-share silver holdings remained unchanged last week.

Platinum dropped despite tight balance between supply and demand as production slows while demand is still strong, especially from China.

Palladium moved down, being pressured by weakness of the industrial metals. However, potential deficit in the market this year due to recovering auto sales in the US and China may bolster the metal's price.


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Mon, 25 Jun 2012 14:24:14 GMT

Aluminum declined despite production cuts

Industry metals except for nickel depreciated on Friday as slowing manufacturing activity all over the world continued to dominate market sentiment.Aluminum remained weak despite significant fall in output in the recent months as producers are closing down smelting facilities as a response to low prices.Copper balanced between pessimistic manufacturing data and positive news from the Eurozone as four largest economies

Mon, 25 Jun 2012 13:56:14 GMT

Gold eased up ahead of EU meeting

Gold prices moved higher in European morning session on Monday on bargain buying after a decline last week. Investors also turned to the yellow metal ahead of EU summit that may result in closed fiscal ties among its members. Meanwhile, gold futures for delivery in August traded at 1,573.75 US Dollars per troy ounce on the New York Mercantile Exchange,

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