Precious metals

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
Precious metals fell on Friday amid broadly stronger US Dollar after  negative news from the Euro Zone. Moreover, Ben Bernanke's announcement that the second round of quantitative easing in the US is not imminent continued to pressure precious metals' price. However, commodity group was supported by increased buying of the large exchange-traded funds. Gold holdings of the world's largest ETF hit all-times high of 70.76 million ounces. In addition, traders remained bullish about precious metals, increasing their long positions to the half-year high. Palladium and platinum were also exposed to the news that Wallbridge Mining started drilling in three palladium and platinum projects in Canada.

Interchange between gold, silver and platinum remained almost unchanged at 0.85 and 0.76, respectively. In the similar fashion, gold's connection with palladium improved to 0.71 amid better than expected auto sales in the US. Further, correspondence between gold and Brent oil advanced from minus 0.08 to 0.08 as both commodities tumbled on the firmer US Dollar. Gold's link with the Dow Jones Industrial Average (INDU) soared from minus 0.02 to 0.26 during the day.

© Dukascopy Bank
Back to articles

Actual Topics

Mon, 05 Mar 2012 15:58:20 GMT

Industry metals

Base metals, excluding zinc, were depressed on Friday by weak China's demand and strong US Dollar. Fluctuating energy prices also added to the volatility of the industry metals pack. Aluminum was the top-loser during the day despite strong demand from South Korea and Japan. Copper continued to balance between record high inventories at the Shanghai Futures Exchange and more than

Mon, 05 Mar 2012 14:57:12 GMT

Grains were firm on the South American harvest conditions

Rural commodities apart from coffee were higher on Friday despite stronger US Dollar and weaker equities. Grain commodities drew strength from rallying soybean futures that hit five-month high on the lingering concerns over South America's crop conditions. Moreover, wheat and corn were supported by the sustainable demand from China for US grains. Further, expected fall in the Russia's wheat exports

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.