Palladium soared on stimulus hopes

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals rallied on Tuesday amid building hopes for monetary easing by the Fed, ECB and POBC. Meanwhile, traders awaited a FOMC minutes release due on Wednesday; the minutes are likely to be the major driver for the commodity group in the next sessions.

Gold reached more than three-month high on hopes for easing by global central banks and weaker US Dollar. At the same time, soft physical demand from India continued to depress the yellow metal's price.

Silver moved in tandem with gold, advancing by 1.83%. Soft greenback and global easing speculation lifted the white metal.

Platinum was hovering near the highest level in two months as supply uncertainties from South Africa persisted. 

Palladium attained almost three-month high on hopes for monetary stimulus in the US and China. Additionally, strength of the base metals pack lent support for palladium.

 

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