Precious metals gained a spree after the boost of bailout fund

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Source: Dukascopy Bank
Precious metals rallied on Friday after the Euro Zone's finance ministers agreed on boosting the lending facility to 700 billion Euros. Broadly weaker US Dollar after lower than expected Chicago PMI data and stronger equities also lifted the precious metals group. Gold was the driver for the commodity group. However, the upside of the yellow metal was capped as India does not plan to roll back the tax duty on the imported gold even despite two-week strikes among the jewelers. Silver's rally was limited as hedge funds reduced net long positions in the white metal. Platinum and palladium moved higher ahead of the China's PMI data that was due on Sunday.

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Mon, 02 Apr 2012 09:46:06 GMT

Base metals were mixed on Friday ahead of China's PMI data

Industry metals were mixed on Friday with soaring nickel and copper and falling zinc and aluminium. Weaker US Dollar and firm European and US equities lent some support to the base metals pack. However, softer than expected German retail sales and Chicago PMI data limited the upswing. Traders also were cautious ahead of China's PMI data release that was due

Mon, 02 Apr 2012 15:00:55 GMT

Hang Seng index finishes 0.2% down on property shares

Hong Kong's Hang Seng index extended losses on Monday giving up 0.16% or 33.2 points to 20,522.26 . The index still was negatively affected by property shares as the arrests of two Sun Hung Kai Properties executives on Friday put downward pressure on the whole index. The company fell 3% on Monday trade. New World Development Co shed 3.5%. Meanwhile

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