Precious metals bounced on strong PMI

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Source: Dukascopy Bank
Precious metals advanced on Wednesday amid broadly weaker US Dollar on the positive economic data from the Euro Zone. Gold jumped by 0.33, approaching two-month high of USD 1743.53 per troy ounce. The yellow metals also continued to draw support from the Fed's decision to keep low interest rates until mid-2014. Other precious metals followed the gold's suit and rallied during the day. Silver gained 1.62% to USD 33.7088 per troy ounce tracking firmness in base metals. Investors also showed increased interest in physical buying of silver that may stimulate growth in price.

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Thu, 02 Feb 2012 17:24:57 GMT

Base metals rallied on positive industry data

Base metals rallied on Wednesday amid strong manufacturing data from the US, the EU and China. Industry metals also found additional support on the weaker Euro. However, stockpiling of aluminum at the LME warehouses limited the gains for the metal. Copper and nickel may gather momentum on the expected supply disruptions as workers of BHP Billion may continue the strike

Thu, 02 Feb 2012 16:55:09 GMT

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