Precious metals sank despite weaker US Dollar

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Source: Dukascopy Bank
Precious metals except for palladium moved down on Wednesday sessions despite stronger equities and softer US Dollar. The commodity group was pressured by lack of fresh easing measures from Fed and overall instability in the Euro Zone. Gold was only marginally lower, consolidating at 1658.98 US Dollars per ounce after fluctuating on speculation about Fed readiness for fresh liquidity measures. Silver followed bearish trend despite stronger equities. Platinum was the top-loser, tracking silver's downside. Meanwhile palladium gained 0.67% amid positive data from the Pacific region. However, the upswing may be capped as production of palladium of North American Palladium increased more than expected in Q1.
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Thu, 12 Apr 2012 20:26:54 GMT

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