Silver tumbled on lack of ETF buying

Note: This section contains information in English only.
Source: Dukascopy Bank
Precious metals were mixed in choppy Monday trade, being impacted by softer US Dollar and steady global equities.

Gold balanced between inspiring personal income data from the US and price downgrade by HSBC. Personal income in the US rose by 0.4% in March, beating forecasts of a 0.3% gain while HSBC cut its average gold price forecast for 2012 from USD1,850 per ounce to USD1,760 per ounce.

Silver was the top-loser despite some support lent by industrial metals. The white metal continued to face strong downward pressure from lack of the ETF buying and elevating inventories at CME warehouses.

Platinum and palladium were mixed as palladium managed to climb by 0.21% due to better performance of the auto industry worldwide whereas platinum lost 0.33% after Aquarius Platinum reported a net loss of USD9.4 million in Q1 of 2012.


Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.