Gold steady after BoJ stimulus measures

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals were mixed on Wednesday after the Bank of Japan announced that it will expand its assent and loan-purchasing program to boost economy. Weaker US Dollar coupled with rising holdings of the largest precious metals-backed funds created additional support for the commodity group.

Gold was almost flat despite easing measures in Japan and weaker US Dollar. Positive data from the US real estate market pressurized the yellow metal's price.

Silver slid despite a 0.43% increase in silver holdings of iShares Silver Trust and stronger global equities. Positive headlines from the US and persistent Eurozone's concerns sent the white metal lower.

Platinum climbed on renewed supply concerns form South Africa. Miners at Anglo American Platinum's mine started to protest after news that Lonmin's miners won an increase in wages.

Palladium was the-top gainer, rallying 0.73% amid hopes for stronger demand amid global monetary easing.

 

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