Palladium sagged 1.61% ahead of Fed policy meeting

Source: Dukascopy Bank SA
Precious metals were mixed on Monday amid broadly weaker US Dollar and safe-haven demand after Cyprus said it would levy bank deposit taxes. Meanwhile, market players remained cautious ahead of a two-day Fed policy meeting scheduled to start on Wednesday.

Gold hit almost a two-week high amid concerns that bailout conditions for Cyprus will impact smaller depositors and push the Eurozone deeper into recession. Moreover, the yellow metal drew strength from robust physical demand from central banks and jewelry producers.

Silver rose, tracking gold's advancement and greenback's weakness. Meanwhile, experts predict an increase in industrial usage of silver. Industrial demand for the precious metal may attain 483 million ounces in the period between 2012 and 2014, up 53% from the average fabrication demand in 1992-2001.

Platinum and Palladium dipped after South African Chamber of Mines and unions agreed to discuss an introduction of centralized wage bargaining. However, losses were limited by signs of growing investment demand. Platinum ETP holdings climbed 0.4% to reach a record of 5.83 metric tonnes last week.
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Tue, 19 Mar 2013 08:58:14 GMT

Zinc plunges despite possible deficit this year

Industrial metals slumped on Monday as market players shunned risky assets after Cyprus said it plans to levy taxes on bank deposits to meet bailout requirements. The move raised worries over financial stability of the single currency union thus weighing on industrial demand prospects of the commodity complex. Aluminum dived amid elevated inventories in China. Stocks at Shanghai Futures Exchange climbed

Thu, 21 Mar 2013 06:54:10 GMT

Poland's core inflation slows down to 5-year low in February

Polish core inflation slowed down to its lowest figure since November 2007 in February, while the consumer price index stayed unchanged on a monthly basis at 0.1%, the country's central bank reported on Monday. The report showed that core consumer prices advanced annually by 1.1% in February following a 1.4% rise recorded the month before, while the core inflation was

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