Platinum edged up despite solid greenback

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals advanced on Wednesday despite stronger US Dollar. The commodity group found support on mixed US data and increased buying of the central banks around the globe. However, market sentiment remained weak due to  US fiscal cliff concerns and mounting uncertainty over Greek bailout.

Gold inched up amid improving physical demand from central banks. Central banks of Brazil, Kazakhstan and Russia added 17.2, 7.5 and 0.4 tonnes of gold last month. However, solid greenback weighted down on the yellow metal.

Silver extended previous gains despite weakening activity on China's market. Trading volume on the Shanghai White Platinum & Silver Exchange tanked 30% this year in wake of falling industrial demand.

Platinum eased up, following silver and gold advancement. However, the precious metal remained range-bound due to easing supply insecurity in South Africa.

Palladium was the top-gainer after a sharp fall in the previous session. Palladium was lifted by lingering supply concerns amid lower exports from Russia and South Africa.

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Thu, 22 Nov 2012 10:18:58 GMT

Gold appreciates on higher holdings

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