Precious metals mixed on Friday; India's gold export tax in focus

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Source: Dukascopy Bank
Precious metals were mixed on Friday with slightly higher silver and gold prices and falling platinum and palladium futures. The commodity group continued to be exposed to the Fed decision not to implement next round of quantitative easing in the US soon. At the same time, weaker US Dollar and  dismal economic data from US both created correction of the precious metals' pack. Gold came under the strongest pressure among all the metals in the group after India announced it doubles gold import duties. Silver was the top-performer as it managed to climb on broadly stronger equities and stabilization of the global economy. Meanwhile, platinum and palladium being growth-sensitive assets tumbled on pessimistic US data.

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