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Gold and silver gain further momentum despite headwinds
Gold and silver continue to build on last week’s strong short covering and haven rally as the Middle East conflict intensifies. The recent recovery has been even more impressive considering the price negative signals currently being sent from the bond and short-term interest rate markets. Gold reached a four-week high overnight and silver a three-week high after hopes for a diplomatic resolution deteriorated following a deadly explosion at a hospital in Gaza. The threat of an escalation has given a fresh boost to crude oil while demand for hedging and safe havens continue to support precious metals, so much that ... (full story)