Gold climbed while other precious metals fell

Source: Dukascopy Bank
Precious metals, excluding gold, dropped on Tuesday despite gathering momentum on the depreciating US Dollar after disappointing US consumer confidence and Chicago PMI data. Gold, the only gainer, found additional support on the Fed's decision about keeping low interest rates till mid-2014. At the same time, ETF silver purchases increased due to lower price. Value of the US Dollar and developments in the Euro Zone are expected to remain the key determining factors for precious metals' price moves.

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Wed, 01 Feb 2012 15:41:27 GMT

Base metals dropped on disappoining US data

Industry metals fell on Tuesday as German retail sales dropped and  consumer confidence in the US has worsened. At the same time, LME inventories of base metals faced a decline. Moreover, cancelled warrants for copper and nickel inched up, reflecting stronger spot demand. Aluminium was one of the top losers, falling by 1.8%. Aluminium faced weaker spot demand as cancelled

Wed, 01 Feb 2012 15:04:53 GMT

Esprit prepares to close all its stores in North America

Clothing retailer Esprit Holdings plans to close all its North American stores as the company failed to sell the unprofitable unit. Esprit is attempting to cut costs and recover from 98% earnings drop last year. Representatives of company admitted, Esprit did not manage to get and maintain the market share in North America. Following the announcement Esprit shares lost 1.4%. 

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