Platinum declines but supply concerns cap losses

Source: Dukascopy Bank SA
Precious metals tumbled on Thursday after Mario Draghi said the ECB will maintain its loose monetary policy. He also added inflation is likely to fall below 2%, putting heavy pressure on the precious metals, which are traditional inflation hedges. Moreover, broadly stronger greenback and mixed US data pushed the commodity complex lower.

Gold retreated after comments of Mario Draghi send the Euro lower against the US Dollar. The yellow metal also came under pressure on expectations of a drop in inflation in the Eurozone and mixed US numbers.

Silver declined, tracking gold's weakness. Weak global equities and solid US Dollar weighed on the grey metal. At the same time, signs of strong investment demand continued to lend support. According to the US Mint, sales of 2013 American Eagle silver coins surged 86% in January.

Platinum slumped despite persistent supply concerns in South Africa. Barclays expects global production to reach more than a ten-year low in 2013.

Palladium extended previous losses amid mixed US data. However, the metal may seek support from global deficit concerns and high industrial demand potential.
Back to articles

Actual Topics

Fri, 08 Feb 2013 09:41:04 GMT

Nickel moves lower amid ample global supplies

Base metals ended Thursday's session in the negative territory as solid greenback put notable pressure on the commodity group. Weak numbers from the US labour market and increased caution ahead of China's trade data also dragged industrial metals lower. Aluminum was steady amid elevated LME inventories and hopes for solid demand from automobile producers. Meanwhile, expectations that production cuts by

Thu, 07 Feb 2013 17:28:03 GMT

U.K. equities as BOE refrains adding further stimulus

U.K. stocks dropped halting their three-day gains this week after the European Central Bank decided to leave its benchmark unchanged pairing with BOJ's decision to not add further monetary stimulus for the nation's economic recovery. The FTSE 100 index slid 0.3%, or 18.67 points, to 6,276.67. However, the index has still gained 6.4% this year. Seven out of ten

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.