Precious metals pared early losses in a day of light trade and no tier 1 US data to drive price action. Spot gold saw weakness as the USD strengthened against the JPY and GBP. Gold however was lifted from the lows as this move began to unravel and US stocks continued to fall into the mid-point of the week. Looking ahead metals markets will be anticipating Chinese trade balance, industrial production and CPI later this week. Copper outperforms other base metals following yet another stronger than expected data point from the world’s third largest copper consumer, Germany, as their Industrial Production figure beat forecasts.
07 Aug 2013 - 19:30 - - Source: RANsquawk
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