Precios metals rallied on Thursday despite stronger US Dollar

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Source: Dukascopy Bank
Precious metals rallied on Thursday amid positive data from the US.  Gold added 0.92%, hitting more than two-month high of USD 1759.55 per ounce. The yellow metal drew support from the fall in the US jobless claims and Fed's decision to keep low interest rates. Silver, the top gainer, was mostly tracking the gold's jump. At the same time, platinum is likely to gather momentum on the ongoing labor strikes in Impala. Palladium soared by 1.43% over the day as the metal was lifted  by the improved automobile sales in the US. Moreover, palladium price is likely to increase further as HSBC expects it to average at USD 785 per ounce in 2012.

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Fri, 03 Feb 2012 17:54:00 GMT

Industry metals fell after rally

Base metals tumbled on Thursday as investors tended to sell off metals to book profits before US employment report due on Friday. At the same time, the world top metals' producers reported a decline in copper and zinc production over 2011. Aluminium was the top loser, falling by 3.09%. The metal may found support on the increase in cancelled warrants

Fri, 03 Feb 2012 14:59:37 GMT

DAX rallies on PMI data and US jobs

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