Gold surged on fresh round of QE in the US

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals skyrocketed after the Fed announced another round of QE. The Fed stated that it would buy mortgage-backed securities unless the US labour markets recover. Broadly weaker US Dollar after FOMC statement also created strong support for the commodity group.

Gold jumped, erasing previous losses after the Fed launched the fresh round of QE to boost US economy. Dismal US labour market data added pressure on the greenback, thus lifting the yellow metal's price.

Silver surged on the US stimulus measures and sharply higher equities across the globe. Meanwhile, investors awaited US retail sales and CPI data due on Friday.

Platinum soared 2.36%, drawing strength from the US easing and persistent supply concerns. On Thursday, Anglo American confirmed that a group of miners resubmitted the list of demands to the management.

Palladium advanced as stimulus measures in the US fuelled hopes that industrial demand for the metal will strengthen.

 

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Fri, 14 Sep 2012 08:43:52 GMT

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