Precios metals followed platinum's suit

Source: Dukascopy Bank
Precious metals rallied on Wednesday amid broadly weaker US Dollar and weak PMI data releases from the Euro Zone. Platinum, the top performer, added 2.22% over the day and was the driver for other precious metals' gains. Platinum price was mainly bolstered by the expected output cuts. Impala Platinum Holdings announced it would halve April deliveries due to prolonged strike at the largest mine. At the same time, gold and palladium were among gainers as lingering worries over the Euro Zone debt crisis started to increase safe haven appeal of the commodity group. Silver, the only loser, mostly tracked the falling equities.

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Fri, 24 Feb 2012 06:09:39 GMT

Base metals mixed after Euro Zone's PMI data

Industry metals were mixed on Wednesday amid weak industry data releases from the Euro Zone. Copper, traditional driver of the metals pack, lost 0.17% as Collahuasi's copper mine resumed its operations. In addition, depreciating US Dollar and weak global equities continued to weight down on the metals' price. Aluminium was resilient to disappointing PMI data as the metal found support

Thu, 23 Feb 2012 14:55:04 GMT

DAX tumbles further as EC lowers growth forecast for 2012

German DAX index maintained downward trend on Thursday despite the fact German business confidence improved more than predicted in February.  Among main decliners was Deutsche Telekom which plunged 3% after the company predicted a further decline in its profits in 2012. Commerzbank provided the main negative contribution to index after European Commission lowered Euro Zone annual growth forecasts, from 0.5%

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