Gold slid on high risk-aversion

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Source: Dukascopy Bank SA
Precious metals extended previous losses on Thursday on growing rick-aversion among investors as global data releases indicated economic weakness.

Gold followed bearish trend on low risk-appetite among traders. The yellow metal continued to move in tandem with riskier assets, being pressured by fiscal instability in the Eurozone and slowing growth in China.

Silver fell amid weakness of the global equities and broadly stronger US Dollar.

Platinum slid as demand slows. Switzerland reported that its platinum imports plunged to two-year low in May.

Palladium, being the most-growth sensitive, declined after negative manufacturing data releases from the US and China.
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Fri, 22 Jun 2012 14:00:33 GMT

The U.S. dollar lower despite worsened German business sentiment

On Friday, the Greenback was mainly lower versus other major currencies on weak U.S. data and pessimistic German business sentiment. EUR/USD gained 0.09% and reached 1.2551 in U.S. morning trade. Cable increased by 0.04% and hit the 1.5601 level. USD/CHF lost 0.10%, consolidating at 0.9569. However, USD/JPY advanced 0.02% and reached 80.30.

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