Platinum inched up despite oversupply concerns

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Source: Dukascopy Bank
Precious metals were strongly pressured by weaker Euro after elections in Greece and France.

Gold tumbled amid broadly stronger US Dollar as elections' results hinted that the Euro Zone is far away from resolution of its financial difficulties. However, strong China's demand may revive gold prices in the nearest term.

Silver was the top-loser, following the EU equities and weak Euro that dropped to three month-low against the US Dollar.

Platinum managed to climb by 0.12% on Monday despite expected surplus in the market and sluggish industry recovery in the main economies.

Palladium fell amid global economic uncertainty after anti-austerity measures proponents won elections in France and Greece.

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Tue, 08 May 2012 13:28:06 GMT

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