Precious metals tumbled on the negative economic outlook

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Source: Dukascopy Bank
Precious metals moved down on Tuesday amid appreciating US Dollar and lingering concerns over the Euro Zone debt crisis. Weaker equities also added to losses. Traders switched from commodities to the greenback as risk appetite was dampened after negative economic data. Moreover, the OECD reported lower than expected inflation rate that created pressure on traditional inflation hedges. Moreover, the commodity group continued to be impacted by the downgrade of the China's GDP target for this year. However, the downward move may be limited as long-term outlook remains bullish with increased buying by the large gold and silver backed funds. Platinum and palladium also may seek support from improved automobile sales.

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Wed, 07 Mar 2012 18:05:06 GMT

Industry metals were down amid disappointing GDP data

Base metals tumbled on Tuesday along with broadly stronger US Dollar and weaker equities. Industry metals were also pressured by disappointing GDP data from the EU and Australia that added to concerns over the global stagnation. Moreover, recent cut of China's economic expansion weighted down on the base metals pack. Aluminium continued to fluctuate on the high stockpiles at Shanghai

Wed, 07 Mar 2012 16:18:57 GMT

DAX 30 index improves on financial shares

After a sharp fall of 3.4% yesterday, German DAX index recovered on Wednesday, led by banks. Commerzbank advanced 2.9% and Deutsche Bank soared 1.2%. Henkel AG gained 0.9% after Goldman Sachs raised stock's rating from neutral to buy before company's earnings report due Thursday. On the downside Adidas AG lost 2.3% after reporting profit that missed analysts predictions. RWE AG

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