Silver eased up on stronger global equities

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals except for gold moved higher on Tuesday despite strong downward pressure from the US Dollar. Upbeat US data coupled with uncertainty over easing measures in the country continued to push the commodity group lower. Meanwhile, market players remained cautious ahead of US presidential elections on November 6.

Gold was the only loser after better-than expected reports from the US job market.

Silver inched up as stronger global equities outweighed pressure from the greenback.

Platinum moved higher as supply concerns in South Africa renewed. Anglo American Platinum reported that it does not have sufficient labour resources to resume operations. 

Palladium was the top-performer after US light vehicle sales showed expansion last month. US sales of light vehicles rose by annualized 8% in October.

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Fri, 02 Nov 2012 09:50:07 GMT

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