Silver declined despite weaker USD

Source: Dukascopy Bank SA
Precious metals tumbled on Monday despite hopes that central banks across the world will implement stimulus measures soon. Meanwhile, traders await fresh data from the US due this week.

Gold slid by 0.64% amid soft physical demand from India. Indian gold imports are expected to drop by 30% this year on weak Rupee and drought that curbed households' income.

Silver lost 1% on mixed global equities. However, broadly weaker US Dollar provided slight support for the white metal.

Platinum declined as oversupply in the market persisted. However, turmoil over Western Platinum restricted the downside. On Monday, Lonmin reported than two people were killed and six injured after illegal work stoppage at Western Platinum.

Palladium was the top-loser on weak performance of the base metals. Meanwhile, HSBC analysts expect palladium market to return to substantial deficit in 2012.

 

Back to articles

Actual Topics

Tue, 14 Aug 2012 13:25:29 GMT

S&P 500 dropped on global growth fears

US stocks started the week in a red territory on lingering global growth concerns after Japan announced that its GDP growth slowed more than expected in Q2.  At the same time, successful Italian bond auction supported the market sentiment. The S&P 500 Index lost 0.13% to 1,404.11 on Monday.  Eight out of ten industries included in the index dropped. The

Tue, 14 Aug 2012 17:54:30 GMT

Single currency advanced after four days of losses

The shared currency advanced after four days of losses, as investors made bullish bets for ECB's bold actions to lower Italian and Spanish borrowing costs. The Euro jumped 0.4% to $1.2340, with a session high $1.2359 and was higher versus the Japanese yen, adding 0.5 per cent to 96.64 per yen. On the contrary, the ICE dollar Index erased 0.22% to 82.38.

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.