Gold dependence with precious metals stays high

Source: Dukascopy Bank
© Dukascopy Bank
Relations between gold and silver have remained stable for more than one week while gold's correlation with platinum has been falling since the beginning of the week with correlation coefficient declining from 0.91 to 0.77. Gold's tie with palladium tumbled from 0.63 to 0.54 from the beginning of 2012. Meanwhile, gold's correlation with Dow Jones Industrial Average Index decreased to 0.53 after negative headlines from the US while yellow metal's interdependence with the pair EUR/USD declined to 0.45 after hitting three years high in the end of last year.


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Fri, 13 Jan 2012 16:46:45 GMT

Copper and aluminium connection weakens

Copper's alternation with zinc and nickel remains relatively stable at about 0.72 while interdependence with aluminium dropped sharply on Thursday from 0.69 to 0.57 as aluminium price faced pressure from all-times high aluminium stocks at LME warehouses. Meanwhile, copper's tie with the Dow Jones Industrial Average (INDU) tumbled to the lowest level in the last month of 0.34 as stock

Fri, 13 Jan 2012 16:46:31 GMT

Precious Metals rally on the growing demand

Precious metals, excluding palladium, advanced on Thursday with the Dow Jones-UBS Precious Metals adding 0.56% over the day. Silver was the top gainer rallying 0.98% amid strong demand as US Mint announced American Eagle silver coin sales hit three-month high. Gold found support on the weaker US Dollar and increased demand in the US as Mont gold coin sales advanced

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