Precious metals bounced on strong PMI

Source: Dukascopy Bank
Precious metals advanced on Wednesday amid broadly weaker US Dollar on the positive economic data from the Euro Zone. Gold jumped by 0.33, approaching two-month high of USD 1743.53 per troy ounce. The yellow metals also continued to draw support from the Fed's decision to keep low interest rates until mid-2014. Other precious metals followed the gold's suit and rallied during the day. Silver gained 1.62% to USD 33.7088 per troy ounce tracking firmness in base metals. Investors also showed increased interest in physical buying of silver that may stimulate growth in price.

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