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Gold, platinum ease; Goldman reports preferences: Investment bank likes copper and palladium in 2013
Gold and platinum futures pulled back on Wednesday in the wake of a strong prior session for those commodities, while investment bank Goldman Sachs said it’s betting on copper and palladium for 2013.
After settling at its highest level since Jan 2 on Tuesday—up nearly 1% to $1,683.90, according to FactSet—February gold GCG3 -0.29% eased $2.40 to $1,681.50 an ounce in European trading hours.
Gold eased even as the dollar made broad declines overnight. The two tend to move in opposite directions.
The yen made fresh gains against the dollar after reports that Japanese Economy Minister Akira Amari will attend the next Bank of Japan policy meeting. The prior day, a warning from Amari about the effects of an overly weak yen on the Japan economy served to push the yen higher.
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