Palladium moved up, other precious metals down on Monday

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Source: Dukascopy Bank
Precious metals apart from palladium dropped on Monday amid renewed concerns over the Euro Zone's debt crisis and broadly stronger US Dollar. Weakness of the energy markets due to vanishing supply risk premium also added pressure to the precious metals. Gold and platinum were the weakest metals in the group as Fed is still undecided about whether to provide fresh monetary stimulus to the US economy. Meanwhile, silver was only marginally lower, being supported by the increased buying of the largest silver-backed ETF.  Palladium was the only gainer as recovering US retail sales are likely to spur demand for the growth-sensitive commodity. However, the upswing was capped as weak China's GDP data continued to weight.

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Tue, 17 Apr 2012 19:39:24 GMT

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