Precious metals rallied on the Greek bailout deal

Source: Dukascopy Bank
Precious metals rallied on Tuesday after international lenders reached an agreement on the Greek bailout. Broadly weaker US Dollar and successful bond sales both provided additional support for precious metals jump. Gold gained 2.08% as some indications of monetary easing lifted the yellow metal's price. At the same time, gold being an inflation hedge was backed up by the lingering inflation fears amid growing energy prices. Silver mainly was tracking the gold's gains and added 3.09% over the day. Firm equities and increasing I-share silver holdings both created fresh stimulus for white metal price's surge.


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Wed, 22 Feb 2012 16:55:00 GMT

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