Platinum and Palladium See Rising Investment Demand While Production Plummets
Gold has crept higher in all currencies today and is particularly strong in Swiss francs which has come under pressure after the a report showed the Eurozone pulled out of recession last quarter. While German and French gross domestic product exceeded analysts forecasts, it is premature to become over excited about a recovery in the Eurozone which remains in a very precarious state.
Gold’s fall yesterday was attributed to unfounded fears that the U.S. Fed may begin tapering next month. Atlanta Fed President Dennis Lockhart said that bond purchases may be reduced next month even though inflation is below their target. Profit taking was a more likely reason for yesterday’s small fall.