Precious metals strongly backed up by softer US Dollar

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Source: Dukascopy Bank
Precious metals, except for palladium, advanced on Tuesday amid softer US Dollar and expectations of further quantitative easing in the US. Gold managed to surpass USD 1,700 per ounce for the first time in the last seven weeks. Silver and platinum also followed the yellow metal's suit and rallied for second consecutive day.  Precious metals' holdings of silver and gold-backed exchange traded funds remained almost unchanged. Precious metals are expected to continue rallying on the weakening US Dollar after poor labour and real estate data from the US.

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Fri, 27 Jan 2012 13:25:54 GMT

Idustrial metals wait for China's investors to return after holidays

Industrial metals gathered momentum amid positive equities and eco-friendly data releases. However, volumes of trade are light due to China's holidays. Base metals may seek additional support on the high cancelled warrants and declining inventories at the LME warehouses, reflecting stronger spot demand for this commodity group. At the same time, US faced growing demand for durable goods thus providing

Fri, 27 Jan 2012 12:58:29 GMT

Crude oil futures increased during Asian session

New York crude oil futures climbed near USD 100 per barrel during the Asian trade. Crude oil contract for March added 0.1% to USD 99.77 per barrel during the electronic trade, on the New York Mercantile Exchange. Gasoline futures for February delivery were steady at USD 2.855 while heating oil February contract added one cent to USD 3.06.

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