| Precious metals weakened on strength in US dollar and weak phyical demand. Barclays noted in a weekly report that platinum prices fell towards $1200/Oz to levels last tested in August 2009, making it the laggard of the complex. Silver has also failed to find fundamental support and has tested levels below $17/oz for the first time in 4½ years.
Palladium and gold have fared better,with gold having only surrendered its gains for the year, tumbling below $1200/oz after the strong nonfarm payrolls report, while palladium has fallen to six-month lows as the dollar has strengthened and equity markets have weakened. In our view, palladium’s fundamentals have limited the metal’s downside to some extent but the recent price weakness raises the question: where is the price floor for the precious metals?..............................................Full Article: Source
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