Precious metals tumbled after China's growth target cut

Note: This section contains information in English only.
Source: Dukascopy Bank
Precious metals tumbled on Monday after China announced it has set an eight-year low growth target of 7.5% for 2012. The commodity group started to move closer with riskier assets hence slowdown in the world's second largest economy created strong downward pressure on the precious metals. However, slightly lower US Dollar and increased dip buying limited the losses. Gold was the driver for other precious metals during the day. Palladium and platinum also were pushed down as Impala reported it plans to restart operations at the Rustenburg mine soon. Meanwhile, long-term outlook for these metals remained bullish due to signs of recovery in the US car sales and expected shortage in the market as Russia's stockpiles appear to be nearly exhausted.

Back to articles

Actual Topics

Tue, 06 Mar 2012 14:06:27 GMT

Base metals fell on disappointing economic data

Industry metals posted losses on Monday following downgrade of China's this year growth forecast and disappointing economic data from the EU and US. Weak equities also contributed to the downswing of the metals pack. Moreover, poor China's demand and stockpiling at the Shanghai Futures Exchange weighted down on metals' prices. Alumnium is likely to face further fall in price despite

Tue, 06 Mar 2012 13:40:42 GMT

Portugal to return in bond markets in 2013

International Monetary Fund expects Portugal to return in sovereign bond markets next year. Portuguese government is attempting to reduce spending and increase taxes in order to fulfil IMF requirements in exchange for EUR 78 billion rescue package. Portuguese PM Pedro Passos Coelho expects country's economic performance to improve in next few months. 

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.