Gold flat after previous rally

Source: Dukascopy Bank SA
Precious metals were flat on Monday after previous week's jump on the EU summit optimism. Weak US and China's PMI data, which boosted hopes for additional stimulus from the Fed, provided slight support for the commodity group.

Gold was almost unchanged after previous rally as traders await fresh US data releases due on Tuesday. Weaker than expected economic news are likely to force Fed to ease the policy further hence support the yellow metal.

Silver was flat, balancing between fading EU summit stimulus and solid equities.

Platinum, being sensitive to supply issues, was the only gainer amid persistent production uncertainties in South African region.

Palladium lost 1.19% on weakness of the base metal pack. Investors were worried about potential fall in industrial demand for the metal after dismal PMI data worldwide.
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Tue, 03 Jul 2012 14:09:36 GMT

Aluminum inched down after global PMI releases

Industrial metals apart from nickel tumbled on Monday after disanointing China's and US PMI data. Strong Dollar and lingering demand concerns continued to weight on the commodity group.Aluminum eased down after PMI data; however, falling inventories at the main exchange warehouses limited losses of the light metal. Copper was the top-loser amid global growth concerns on dismal manufacturing data and

Tue, 03 Jul 2012 13:50:08 GMT

British Pound strengthens its position

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