Gold advances on weak greenback, stimulus hopes

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals rallied on Thursday as upbeat US data failed to boost greenback. US GDP expanded by 2.7% in Q3 versus a preliminary reading of 2%, but slower than forecasts of 2.8%. The commodity group was likely to react negatively to encouraging US data as it may scale back expectations for further easing by the Fed. However, recent reports that suggest the Fed still is set to expand bond-purchasing program lifted precious metals pack.

Gold climbed on expectations that the Fed will ease its monetary policy further. The Wall Street Journal reported that the Fed is expected to expand its bond-buying plan at its next-month meeting.

Silver soared on stronger global equities and weak US Dollar. Hopes for additional stimulus measures in the US also spurred the grey metal's rally.

Platinum and Palladium rose on expected deficit on the market next year due to lower output in Russia and South Africa. At the same time, concerns over Greece capped gains of the metals.

Back to articles

Actual Topics

Fri, 30 Nov 2012 08:24:22 GMT

Aluminum soared after upbeat US numbers

Base metals climbed on Thursday amid positive signals from the US economy. US GDP growth in Q3 was revised sharply upward, while US jobless claims fell in line with forecasts last week. Moreover, optimism over the US budget talks and expected acceleration in China's growth pace booted demand for riskier assets.Aluminum was the top-performer on signs of potential shortage on

Fri, 30 Nov 2012 09:10:23 GMT

Aussie falls ahead of RBA meeting next week

The Australian Dollar depreciated versus most of the major counterparts on speculation the RBA will lower the key rates next week to protect the economy from a slowdown in mining. The Aussie weakened to $1.0430 from $1.0435 yesterday. The currency is set for a 0.3% drop this week, whereas it climbed 0.6% this month. Australia's Dollar was at NZ$1.2669 from

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.