Gold fell on Euro Zone's instability

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Source: Dukascopy Bank
Precious metals extended previous losses on Monday as uncertainty over Greece's exit from the single currency union continued to lend support to the greenback.

Gold approached more than four-month low amid fears that Euro Zone's recession will not be as mild as anticipated. Moreover, US Dollar Index gained 0.45% on Greek woes thus weighting on the yellow metal.

Silver was the top-loser as rallying US Dollar and weak global equities continued to create pressure on the commodity.

Platinum tumbled despite expected deficit in the market because of supply disruptions from South Africa.

Palladium was impacted by a 0.3% contraction in Euro Zone's industrial production in March; however, possible deficit in the market this year may lift the metal's price.
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Tue, 15 May 2012 11:16:23 GMT

Zinc declined amid weak fundamentals

Industry metals moved down on Monday after China cut its RRR, signaling that the country's economy needs additional stimulus to expand. Weaker than expected Euro Zone's industry data also weighed on the commodity pack.Aluminum lost almost 1%, being pressured by global financial instability. However, the downswing was limited as Tajikistan's Aluminum reported a 11.6% fall in output.Copper attained four-month low

Tue, 15 May 2012 07:48:23 GMT

China's currency depreciated again

China's currency weakened for the fifth consecutive session, singling that the country' government makes attempts to revive stagnating export sector. During over-the-counter trade on Tuesday the US Dollar appreciated to 6.3231 Yuan as compared to Monday's level of 6.3215 Yuan. Experts said that China is likely to continue to depreciate its currency to boost exports in view of global economic

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