Palladium failed to track gold's gains on Monday

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Source: Dukascopy Bank
Precious metals, excluding palladium, advanced on Monday amid broadly weaker US Dollar and China's RRR cut. Optimism over the Greek bailout talks also contributed to the gains. Moreover, experts are positive about precious metals outlook. Deutsche Bank released a report, indicating expected increase in the precious metals prices. At the same time, palladium's price faced downward movement amid stronger Euro and recently discovered large palladium reserves by Mineweb. Precious metals are likely to balance between economic news from the Euro Zone and US on Tuesday.

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Tue, 21 Feb 2012 12:21:43 GMT

Weak China's demand weighted down on the base metals

Base metals faced mixed performance on Monday with advancing zinc and aluminium and falling copper and nickel. Traders are cautious before final resolution of the Greek bailout issue. The commodity group can find further support in the recent cut in RRR in China and fresh economic data released on Tuesday. However, the upswing may be capped on the weak demand

Tue, 21 Feb 2012 13:46:04 GMT

Japan to agree on Iran oil import reduction

Japan and US is looking forward to reach an agreement to cut crude imports from Iran. The deal is expected to be closed by the end of February. Japan's oil dependence has increased since March earthquake in 2011. Therefore oil sanctions threaten economic growth. However, avoiding embargo would harm Japanese foreign financial operations. 

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