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29/01/2012 11:21 AST
The precious metal complex glittered last week as the Fed announced to keep interest rates at exceptionally low levels until late 2014 and indicated further monetary easing is possible. The statement and the press conference held by Chairman Ben Bernanke were dovish enough to push the US dollar lower, helping the metals to climb higher. Upbeat market sentiment pushed gold above important resistance and as we mentioned before, its long-term uptrend has probably resumed. While gold has grabbed new headlines and much of the market focus, it indeed underperformed silver which has attracted strong investment demand despite uncertain industrial outlook.
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IBTimes Gold
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Gold | 1,332.2 | -8.6 | -0.64 |
Silver | 16.4 | -0.21 | -1.23 |
Platinum | 923 | -9 | -0.97 |
Palladium | 929 | -3 | -0.32 |
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