Silver inched down as hopes for QE3 started to fade

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals moved lower on Monday amid broadly stronger US Dollar and mixed global equities. Moreover, speculation that US consumer confidence data due on Tuesday will beat expectations weighted down on the commodity group.

Gold dropped as hopes for QE3 in the US started to fade amid strong US data releases. Weak physical demand from India in view of poor crops also added pressure on the yellow metal.

Silver followed the gold's trend, falling by 0.19%. Lack of actions from the ECB and Fed weighted down on the white metal.

Platinum slid despite potential supply disruptions from South Africa as strikes at mines continued.

Palladium also declined as hopes for easing in the US and Europe started to vanish. Stronger US Dollar also pressurized the precious metal's price.

 

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