Silver slid despite hopes for Fed stimulus

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Precious metals were mixed on Monday, with platinum and palladium extending previous gains and gold and silver retreating. Mounting hopes that the Fed will ease its monetary policy failed to lift gold and silver. Meanwhile, market players were cautious ahead of the German Constitutional Court decision on whether to suspend the ESM.

Gold retreated from recent highs despite speculation that US and China will embark on easing measures in the nearest future. Broadly stronger US Dollar created pressure on the yellow metal.

Silver halted two-day rally amid mixed global equities and solid greenback. Even hopes for easing in the US failed to support the white metal.

Platinum moved higher despite eased supply concerns after Lonmin agreed to start wage negotiations with its workers at Marikana platinum mine.

Palladium soared on brighter demand prospects after inspiring Chinese vehicle sales data. China's car sales surged 8% in August.

 

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