Gold declined on solid greenback

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals started the week on the negative note amid lingering worries over Eurozone's debt crisis. Stronger US Dollar coupled with looming Fed policy meeting also weighted on the commodity group.

Gold slid on Monday as demand for the precious metal weakened on the US Dollar rally. The greenback caught momentum after Moody's cut its outlook on Germany, the Netherlands and Luxemburg.

Silver dropped ahead of Bernanke's speech on monetary policy due on Tuesday. Meanwhile, silver holdings of the iShares Silver Trust increased by 0.12% on Monday.

Platinum followed gold's suit amid large production cuts by the major world miners. Anglo American Platinum and Sylvania plan to reduce output in view of depressed platinum prices and strikes.

Palladium price decreased after news that China's palladium imports fell by annualized 29.6% June.

 

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Tue, 24 Jul 2012 13:16:32 GMT

S&P 500 dropped on Monday amid Eurozone's turmoil

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Tue, 24 Jul 2012 14:57:32 GMT

Spain's borrowing costs increase

Spain managed to gather all intended amount in the debt on Tuesday, but was forced to pay the second highest yield since the creation of the Euro. Spain's treasury raised EUR 3.4b, but the yield increased by 45 basis points and reached 3.69% on it's 6 month bills. 

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