Gold inched up on easing speculation

Source: Dukascopy Bank SA
Precious metals except for gold retreated on Friday despite speculation that the ECB and POBC are preparing to ease their monetary policies after weak economic data.  China's exports slowed last month while Eurozone's growth outlook for 2013 was cut by the ECB.

Gold was the only gainer on global monetary stimulus hopes. However, stronger US Dollar and weak physical demand prospects from India capped the upswing.

Silver slid 0.13% amid weak world's equities. However, speculation that global banks will loosen their monetary policies limited losses of the white metal.

Platinum extended previous slump as market continued to remain in surplus. Meanwhile, analysts urged that further output reductions are necessary to increase profitability of the industry.

Palladium edged lower after Russia announced it has drafted a bill that would facilitate mining for foreign companies in the territory of Russia. Weak quarterly results of the main palladium miners also added pressure on the metal.

 

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.