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Gold Steady while Silver Rises on Wednesday, July 19
On Wednesday, precious metals moved in all directions: gold remained flat, silver rose, while both platinum and palladium experienced a decline. Gold for August delivery was unchanged at $1,980.80 an ounce on the Comex division of the New York Mercantile Exchange. Again, the settlement was the highest since June 6. "The market is very confident that rate hikes will end soon and disinflation is in place. After the Fed meet, if the market is convinced the Fed will no longer maintain the extremely hawkish stance, gold prices could reach $2,000," MarketWatch quoted Edward Moya, senior market analyst at OANDA. On the ... (full story)