Platinum rose amid persistent supply concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals climbed on Thursday despite disappointing news from the ECB and BoE. The ECB and BoE left their monetary policies unchanged. However, Mario Draghi stated that the ECB is ready to purchase bonds of indebted eurozone members when conditions are suitable. The ECB president's comments buoyed the commodity group.

Gold gained on stronger demand amid weak US Dollar and comments of the ECB president. Slight increase in the US jobless claims also boosted the yellow metal's price.

Silver rose ahead of the US payrolls data due on Friday. In case payrolls figure misses forecast of 115,000, the white metal is likely to follow bullish trend.

Platinum soared on persistent supply concerns from South Africa as threat of strikes at the largest platinum mines remained.

Palladium advanced on stronger base metals and weaker US Dollar. Solid vehicle sales in the US coupled with lower output levels from the top-producers sent the precious metal higher.

 

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