Gold prolonged rally amid stimulus hopes

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals extended previous gains on Monday amid mounting expectations that the Fed and POBC will loosen their monetary policies to boost growth. Broadly weaker US Dollar also supported the rally of the commodity group.

Gold moved slightly higher during thin Mondays' session as recent Ben Bernanke's comments that weakness of the US labour market may force the Fed to loosen its monetary policy lent support for the metal.

Silver was the top-gainer on dismal manufacturing data from China that raised hopes for easing in the country.  Speculation that the US and Eurozone are preparing for easing measures as well also pushed the white metal higher.

Platinum advanced amid lack of progress in talks between Lonmin, labour unions and South African government regarding recent violence at Lonmin's mine.

Palladium went higher on hopes for easing measures in the Eurozone, China and US amid weak economic data releases over last months.

 

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