Silver surged on lower greenback

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Source: Dukascopy Bank SA
Precious metals rallied on Friday amid broadly weaker US Dollar and optimism over the situation in the Eurozone after the EU leaders agreed on measures to combat crisis in the region.

Gold gained 2.88% on weaker US Dollar after the EU policymakers agreed to ease lending conditions for Spain and Italy.

Silver was the top-gainer amid solid global equities and depreciating US Dollar. The white metal caught momentum after the EU summit decision that may result in stabilization in the Eurozone.

Platinum went up on global supply concerns after Aquarius Platinum closed down another mine on expectations for lower price.

Palladium followed the platinum's suit as investors started to buy the metal due to supply worries as instability at South African mines persisted.


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Mon, 02 Jul 2012 13:33:32 GMT

Copper rose on the EU optimism

Industry metals skyrocketed on Friday as EU leaders decided to ease pressure on the indebted countries and put emphasis on growth-boosting strategies. Aluminum rose despite reports that China's aluminum output remained at record high levels. Moreover, the government increased subsidies for smelters thus supplies are likely to stay ample.Copper gained a spree on the Eurozone's optimism. However, buildup in copper

Mon, 02 Jul 2012 13:11:32 GMT

Eurozone's unemployment rate reached 11.1% in May

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