Precious metals rallied on Friday amid lower UD Dollar

Source: Dukascopy Bank
Precious metals, except for palladium, advanced on Friday as slower than expected US economic growth and softer US Dollar stimulated rally started after Fed's monetary policy decision. Palladium, the only loser, followed growth-sensitive base metals' fall. Hedge funds and large speculations increased their net long positions in gold and silver.  However, precious metals started Monday on a negative note amid lower Asian equities and mass credit cuts by Fitch Ratings. Expected optimistic data releases from the US may create additional pressure on the precious metals price.

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