Precious metals fell on Friday despite weaker US Dollar

Source: Dukascopy Bank
Precious metals, except for silver, ended the week on a negative note despite supportive news from the US and EU. Growing energy prices added to inflationary pressure thus bolstering inflation hedges such as precious metals. At the same time, broadly weaker US Dollar also limited the losses. Further,  speculators increased their long positions in gold to the five-month high as well as raised bullish bets in silver to more than five-month high. However,  investors remained cautious ahead of G20 meeting and key industry data releases from the US. Markets also await ECB decision on long term refinancing operation aimed at boosting lending.

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Mon, 27 Feb 2012 14:22:55 GMT

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