11.12.2014 - Investor risk-off mood help recovery in precious metals
A risk-off tone prevailed in financial markets overnight, helped along by further falls in oil prices, a sharp correction in Chinese equities yesterday and an announcement of a snap election in Greece. The precious metals complex recovered strongly as a USD sell off fuelled a strong rally in gold and other precious metals markets. Investors were seen buying up gold in reaction to a sell-off in the Chinese equity markets following a week of gains, as well as news on the tightening of credit conditions in China. News out yesterday said the People’s Bank of China took measures to tighten liquidity by imposing stricter collateral rules on short-term loans; there was also talk of an imminent decrease in reserve requirements...............................................Full Article: Source
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