Platinum jumped amid violence at Lonmin's mine

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Source: Dukascopy Bank SA
Precious metals apart from palladium rose on Monday amid weaker US Dollar. Meanwhile, traders are cautious ahead of the FOMC minutes that are expected to impact precious metals' price.

Gold moved higher ahead of the FOMC minutes release due on Tuesday. Adding to the yellow metal's rally, the Euro rose against the greenback after the ECB reassured that news regarding potential introduction of bond yield threshold  was misleading.

Silver followed the gold's suit, advancing by 2.51% despite soft global equities. The white metal also found support on broadly lower US Dollar.

Platinum hit more than six-week high as persistent violence at Lonmin's mine in South Africa created strong supply risk-premium for the precious metal.

Palladium slid on bleak industrial demand prospects as rising home price in China are likely to put the government off providing additional monetary stimulus.

 

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