Palladium dips on concerns over China's car demand

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals were mixed on Tuesday amid talks that the ECB may loosen its monetary policy as inflationary pressures are easing. However, concerns over weakening investment demand as well as broadly stronger US Dollar weighed on the commodity complex.

Gold advanced on hopes the ECB will ease its policy amid slowing inflation. However, the yellow metal remained under heavy pressure after investors sold more than 106 tonnes from ETPs last month, the most since 2003.

Silver followed gold's trend, jumping 0.49%. The grey metal continued to draw strength from robust China's imports. China's silver purchases surged by annualized 36% in January.

Platinum retreated despite renewed supply concerns in South Africa. Sylvania Platinum reported that accidents at its mines in South Africa last month reduced its production by 900 ounces.

Palladium fell as China's industrial production rose less-than-expected last month, meaning China's car demand may slow. However, global supply shortage coupled with robust industrial demand lent support to palladium prices.
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Wed, 13 Mar 2013 08:40:04 GMT

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