Precious metals rally on Fed's decision

Note: This section contains information in English only.
Source: Dukascopy Bank
Precious metals advanced on Wednesday, following Fed's announcement of holding the interest rate at the low level till the end of 2014. Broadly weaker US Dollar and expected increase in physical demand from India ahead of wedding season both lifted precious metals' price. However, uncertainty over Greek debt swap may cap the upswing. ABN AMRO contributed to the increase in some precious metals price by predicting upward potential for silver and palladium. At the same time, the bank expects the gold to tumble in long run and platinum to face near term correction. Currently, platinum price is increasing on the rallying gold and declining platinum stockpiles at the COMEX warehouses.

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