Gold slides as ECB and BOJ disappoint investors

Source: Dukascopy Bank SA
Precious metals were mixed on Thursday after central banks in Europe and Asia left their monetary policies unchanged. Moreover, positive data from the US jobs market added pressure on the commodity group. At the same time, weaker greenback lent support for precious metals.

Gold traded in the negative area as investors were disappointed by after the ECB and BOJ announced no changes to their policies. Positive US numbers coupled with signs of weak investment demand also weighed on the yellow metal.

Silver retreated, tracking gold's weakness and upbeat US figures. However, the downswing remained limited amid strong China's imports. According to Barclays, China's silver imports soared 36% year on year in January, the largest increase since May 2010.

Platinum and Palladium rallied despite easing tensions between labor unions in South Africa. Robust car demand in the US and China as well as a decline in palladium sales from Russia boosted the precious metals. Moreover, concerns over widening deficit on the physical markets added upward pressure on platinum and palladium prices.
Back to articles

Actual Topics

Fri, 08 Mar 2013 09:52:11 GMT

EUR/USD jumps to the weekly PP

EUR/USD noticeably appreciated in the last session, as the U.S. labour market data indicated improving situation.

Fri, 08 Mar 2013 09:25:05 GMT

Australian Dollar depreciates on worse than expected data from China

The Australian Dollar lost 0.2% and was traded at $1.0242 in the end of Sydney session on Friday. The currency was pushed down by China's imports data, which indicated a bigger contraction than market consensus was. China's statistics department announced that import contracted by 15.2% in February, after a 28.8% expansion in January.

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.