Gold slid after disappointing ECB decision

Source: Dukascopy Bank SA
Precious metals prolonged slump on Thursday on broadly stronger US Dollar and weak global equities. Moreover, investors started to reduce their holdings in precious metals after the ECB refrained from additional easing measures at the moment.

Gold dived under one-week low on lack of additional stimulus from the Fed, ECB and BoE. Meanwhile, traders are cautious ahead of US non-farm payrolls data due on Friday.

Silver followed gold's trend, falling 1.03%. The white metal came under heavy pressure after Mario Draghi announced no changes in the current monetary policy in the Eurozone.

Platinum continued to slide after Aquarius Platinum resumed its production at Kroondal's Kwezi shaft. On Wednesday, about 200 people attracted the mine and disturbed production process.

Palladium declined as weak manufacturing data from the US and Eurozone are likely to weight down on industrial demand for the metal.

 

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