Precious metals rallied after Greece secured the second bailout

Source: Dukascopy Bank
Precious metals posted gains on Friday after Greece announced it has secured the second bailout. However, stronger than expected US labour market data lifted the greenback thus creating an additional pressure on the commodity pack. Further, weaker global equities also weighted down on the commodity group.  Meanwhile, large gold and silver backed funds continued to show interest in precious metals purchasing thus stimulating price growth. Gold was the driver of the commodity pack as loosing monetary policies across the globe added to gains of the yellow metal. Other metals that are more tied to the industry performance rallied on the positive economic data from Europe.

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Mon, 12 Mar 2012 14:54:15 GMT

Base metals ended last week on a positive note

Industry metals ended last week on a positive note as progress over the Greece receiving the second bailout package and improved situation in the US labour market both contributed to the rally. However, weaker global stocks and dismal China's data capped the upswing. Copper and nickel faced falling inventories and better spot demand that pushed the price for these metals

Mon, 12 Mar 2012 14:35:18 GMT

Portugal borrowing costs still above 13%

Although Greece has completed its debt swap agreement and yields for Spanish and Italian debt have declined, Portuguese borrowing costs for benchmark notes still fluctuate above 13%. The yield on 10-year notes currently is at 13.71%. Portugal's debt is evaluated as junk by Moody's, Fitch and Standard & Poor's agencies. 

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