Silver declined on positive US data

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals except for silver moved higher on Friday despite fading hopes for stimulus measures from the Fed after upbeat data releases. A Thomson Reuters/University of Michigan US consumer sentiment index attained three-month high in August.

Gold started Friday's session on the positive note; however, the yellow metal erased gains after better-than-expected US economic data release. The precious metal finished the day with slight increase of 0.08%.

Silver dropped as positive US data weighted down on expectations for QE3 in the US. Meanwhile, strong greenback also created notable pressure on the white metal.

Platinum soared as violence at Lonmin's Marikana mine created supply disruptions from South Africa.

Palladium surged after Norilsk Nickel saw a fall in palladium production in South Africa. Palladium output  from South African mines tumbled by 5% in Q2 on a quarterly basis.

 

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