Gold flat on positive data from the US

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals were mixed on Friday amid persistent hopes for easing in the Eurozone, US and China. Stronger greenback coupled with positive US data releases weighted down on the commodity group. Meanwhile, market participants were cautious ahead of FOMC member, Sandra Pianalto, speech due on Monday.

Gold was unchanged as hopes for QE3 in the US were weakened by an unexpected increase in the US durable goods orders in July.

Silver jumped on stronger global equities and expectations that the ECB will act to ease debt pressure in the region.

Platinum extended previous gains as unrest at South African platinum mines started to spread. On Friday, 100 miners refused to work at Thembelani mine.

Palladium was the only loser, declining by 0.34% amid overall weakness of the global palladium industry. On Thursday, Impala Platinum announced a 37% drop in net income during the year ending June 2012.

 

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Mon, 27 Aug 2012 08:45:03 GMT

Aluminum gained on signs of US economic recovery

Industrial metals were mixed on Friday on speculation that US, China and Eurozone will embark on growth-stimulus measures. An unexpected surge in the US durable goods orders last month also added to gains of the base metals. However, solid US Dollar capped the upswing of the commodity group. Aluminum climbed as positive data flow from the US continued to lend support

Mon, 27 Aug 2012 16:52:04 GMT

Wall Street turned lower on Friday

Wall Street turned slightly lower on Friday, as investors are getting more cautious about Eurozone's leaders will ability to handle region's debt crisis. The Dow Jones Industrial Average fell 0.1%, to 13,041.9; the Standard & Poor 500 Index edged 0.2% lower, to 1,399.54, while Nasdaq 100 futures lost 0.3%, to 3,042.89.

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