Precious metals eased down on Tuesday after Fed meeting

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Source: Dukascopy Bank
Precious metals were mostly lower of Tuesday amid waning expectations of further quantitative easing in the US due to improved economic performance of the country. Broadly stronger US Dollar after stronger than projected retail sales in February also weighted down on the commodity group. However, firm equities limited the downswing.  Gold, being major uncertainty hedge, was the top-loser over the day. Other metals except for palladium followed yellow metal's suit. At the same time, palladium was the only gainer in Tuesday, advancing by 0.58% as optimism over global economies pushed growth-sensitive commodities up. Meanwhile, silver and platinum may also seek support from soaring base metals futures.

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Wed, 14 Mar 2012 16:57:38 GMT

Base metals rallied on Tuesday on improved global economic outlook

Industry metals rallied on Tuesday on positive economic data from the major world's economies. The base metals pack gained a strong spree after Fed announced the US, the second largest consumer of industry metals, faces signs of moderate economic recovery. Moreover, firm global equities pushed the metals' price higher. However, the upward move was limited by broadly stronger US Dollar.

Wed, 14 Mar 2012 15:13:16 GMT

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