Silver retreated after Spain's downgrade

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Source: Dukascopy Bank SA
Precious metals were mixed on Wednesday amid hopes for new round of QE in the US and bleak outlook on the Eurozone's economy.

Gold rallied for forth session, being bolstered by speculation that May's retail sales slump of 0.2% will force the Fed to consider monetary easing.

Silver dropped by 0.51% as the US Dollar managed to pare losses against the Euro after Moody's downgraded Spain's credit rating by three notches, putting the country only one notch above junk status.

Platinum was the top-gainer despite easing supply worries as Impala Platinum managed to resolve conflict with labour unions in South Africa.

Palladium moved down as sluggish economic recovery in the US and weak manufacturing data worldwide continued to dent industrial demand prospects.
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Thu, 14 Jun 2012 13:43:48 GMT

Copper eased down on weak US retail sales data

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Thu, 14 Jun 2012 13:21:44 GMT

Italy's borrowing costs increase

Italy matched its target ant sold EUR 4.5b of debt. The Italy's treasury sold EUR 3b of 3 year bond with 5.3% yield which increased by 1.4% from the last auction in mid May. EUR 675m was sold as 7 year 4.25% bonds at 6.1% yield and EUR 873m were collected selling 2020 maturing bonds at 6.13% yield. 10y bond

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