Gold regained safe-haven appeal

Source: Dukascopy Bank SA
Precious metals apart from palladium advanced on Monday despite weaker global equities and stronger US Dollar.

Gold gained almost 0.8% as safe-haven appeal returned after Moody's downgraded 28 out of 33 Spanish banks.

Silver rallied on safe-haven support after Cyprus asked for a bailout shortly after Spain submitted official request for financial aid.

Platinum gained momentum as platinum production is likely to continue falling amid low prices while demand remains strong, especially from China.

Palladium ended the day slightly lower as North American Palladium reported losses in the first half of 2012 caused by gradually falling palladium prices.
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