Platinum dips as investors priced in deficit forecasts

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals started the week on the negative note amid increased caution ahead of the Fed monetary policy decision due on Wednesday. Broadly stronger US Dollar and signs of global economic recovery also weighed on the commodity complex. However, strong physical demand for precious metals limited the downswing.

Gold edged down despite signs of strong demand from central banks. Russia's and Kazakhstan's holdings rose over 8.5% and 41% during 2012. At the same time, investment demand for gold declined amid more positive global economic outlook. Gold ETP holdings dropped to a two-month low of 2,610.272 metric tonnes in January.

Silver dipped, following gold's trend amid solid greenback and mixed global equities. However, lingering concerns that the Royal Canadian Mint will run out of silver coins due to strong demand cut losses of the grey metal.

Platinum and Palladium slumped as investors priced in expectations of further supply tightening. Production of Anglo American Platinum tumbled 29% in the last quarter of 2012, while Russian palladium reserves seem to be exhausted.
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