Precious metals fell on China's data on Monday

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Source: Dukascopy Bank
Precious metals were mostly lower on Monday amid broadly weaker US Dollar and stronger equities. Precious metals were balancing between improved commodity imports in China and wider China's trade deficit. The slowdown of China's economy may impact middle class that is major consumer of gold's jewelry. The commodity group also continued to face increased volatility as investors eye developments across the second Greek bailout package. Other precious metals mostly tracked gold's trend. However, platinum remained more resilient to macroeconomic data and managed to climb by 0.64%. Meanwhile, traders are cautious ahead of Fed meeting that is not likely to announce quantitative easing in view of recovering US economy.

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Tue, 13 Mar 2012 16:58:40 GMT

Base metals tumbled after pessimistic data from China and the US

Base metals apart from zinc tumbled on Monday along with pessimistic trade balance data from China and widening federal budget deficit in the US. The sluggish economic performance of China dampened traders' confidence in growth-sensitive assets. On the other hand, higher commodity imports in China, especially copper inflow, were supportive for the base metals pack. Copper was the top loser

Tue, 13 Mar 2012 14:48:57 GMT

German investor confidence surged in March

Germany's investor confidence jumped in March, reaching a 21 month record high as ECB injected extra cash into financial system and Greek debt deal moved towards end. ZEW Center's index summarizing analyst and investor expectations rocketed from 5.4 to 22.3 in March. The current reading marks the fourth consecutive increase in investor confidence and the best figure since June 2010.

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