Precious metals tumbled on Tuesday amid stronger US Dollar; platinum resilient

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Source: Dukascopy Bank
Precious metals excluding platinum declined on Tuesday amid broadly stronger US Dollar and weaker equities. Lower than expected consumer confidence data because of high inflation weighted down on the possibility of new round of quantitative easing in the US. The Fed does not provide any clear information on its further actions thus dampening investors' sentiment. Gold was additionally pressured as India announced it would not reduce its gold import duty. However, gold demand from China and India is expected to stay strong. Platinum was the only gainer on the optimism about the Euro Zone prospects as the Euro Zone remains the key market for platinum auto catalysts. Meanwhile, silver and palladium dropped following the gold's tumble.

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Wed, 28 Mar 2012 13:46:10 GMT

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Mon, 02 Apr 2012 09:10:13 GMT

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