Gold eased down on stronger greenback

Source: Dukascopy Bank
Precious metals dived on Wednesday amid stronger US Dollar and persistent turmoil in the Euro Zone.

Gold was only marginally lower as it managed to pare previous losses after release of the Fed minutes. Fed hinted that the US economy may need more monetary stimulus to boost growth.

Silver declined on weakness of the global equities after the ECB stopped financing of some Greek banks.


Platinum was pressured by stronger US Dollar. However, the metal may draw strength from increased Japan's buying as the county attempts to secure platinum supplies to meet potential deficit in the next  years.

Palladium dropped despite expectation for slight shortage in the market this year due to rising industrial and autocatalyst demand. However, increased selling of Russian palladium stocks may turn deficit to surplus as it was in the end of 2011.

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