Gold slides as ECB and BOJ disappoint investors

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals were mixed on Thursday after central banks in Europe and Asia left their monetary policies unchanged. Moreover, positive data from the US jobs market added pressure on the commodity group. At the same time, weaker greenback lent support for precious metals.

Gold traded in the negative area as investors were disappointed by after the ECB and BOJ announced no changes to their policies. Positive US numbers coupled with signs of weak investment demand also weighed on the yellow metal.

Silver retreated, tracking gold's weakness and upbeat US figures. However, the downswing remained limited amid strong China's imports. According to Barclays, China's silver imports soared 36% year on year in January, the largest increase since May 2010.

Platinum and Palladium rallied despite easing tensions between labor unions in South Africa. Robust car demand in the US and China as well as a decline in palladium sales from Russia boosted the precious metals. Moreover, concerns over widening deficit on the physical markets added upward pressure on platinum and palladium prices.
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Fri, 08 Mar 2013 09:52:11 GMT

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Fri, 08 Mar 2013 09:25:05 GMT

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