Platinum remained near one-year low on Wednesday

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Source: Dukascopy Bank SA
Precious metals were weak on Wednesday as soft physical demand from India weighted down on the commodity group. However, speculation that the ECB and Fed will loosen their monetary policies limited losses of the precious metals.

Gold inched up despite weak demand from India. A hot and dry weather in India curbed crops, thus weighting on household revenues.

Silver was the top-loser on broadly stronger US Dollar and mixed global equities. Market participants are cautious ahead of US jobless claims data due on Thursday.

Platinum was almost flat, remaining close to one-year low. Meanwhile, Kitco expected platinum group metals to halt the slump as global economy started to stabilize.

Palladium was unchanged amid industrial demand uncertainties. On Wednesday, Kitco announced that palladium may stop declining but is unlikely to move higher in the nearest future.

 

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