Precious metals tumbled on Thursday amid signs of recovey in the US

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Source: Dukascopy Bank
Precious metals slumped along with disappointing PMI data from the EU and China. From the other side of the Atlantics, the commodity group also did not find any support as signs of US economic recovery vanished hopes on further monetary easing in the country. Gold was the driver for the commodity pack, pulling other precious metals down. The yellow metal continued to be depressed by the second consecutive gold import tax hike  in India. Silver as well as platinum and palladium were also exposed to the flat equities and pessimistic mood of the base metals' pack. Weak interest from investment funds also weighted down on the metals.

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