Platinum rose on South African supply concerns

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Source: Dukascopy Bank SA
Precious metals rebounded on Tuesday on after Federal Reserve Vice Chairman Janet Yellen said that the Fed should continue its bond-buying activities. Moreover, expectations that the BOJ will also ease its monetary policy supported the commodity complex.

Gold climbed on hopes that the Fed will stick to loose monetary policy to spur economic activity. The yellow metal also drew strength from solid physical demand from central banks. However, upbeat US data limited the upswing.

Silver inched up as signs of robust demand in China pushed the grey metal higher. China's imports of silver rose 36% year on year in January, the biggest jump since May 2010, reported Barclays.

Platinum jumped after miners at Lonmin's Marikana mine, the world's third larger producer, went on strike during a publicity drive aimed at showing that the firm had already resolved labour disputes.

Palladium was the top-performer amid bright industrial demand perspectives. China's car sales soared 46% last year, while global market is likely to remain in deficit in 2013.
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