Sunday, 4 March 2012

Precious metals slip, oil rallies

Precious metals finished a choppy session slightly lower Monday as the dollar showed some early strength against the euro.

Energy prices climbed after a militant attack on an oil platform in Nigeria, Africa's biggest crude producer. Trading overall was quiet, with no economic data to pull the market one way or another.

"The bottom line is we're just lacking an impetus right now," said Dave Meger, a gold analyst at Alaron. "We're in a demand lull, the summer doldrums."

A slight uptick in the dollar against the euro early in the day put some pressure on precious metal prices, Meger said. Those gains came as China's chief central …

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