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Silver analysis: Precious metal about to break $30 barrier
Precious metals were looking strong even before the release of US CPI data, with gold holding in a bullish consolidation pattern following last week’s 2.5% gains and silver was already on the ascendency over the past couple of days. Both metals rallied once the CPI report was released, and after some profit-taking, recovered again to rise to fresh session highs. Our silver analysis suggests that the precious metal now looks poised to hit that key $30 level and potentially rise far beyond that level, if the recent gains by gold and copper are anything to go by. Silver analysis: US dollar drops on weaker US data ... (full story)
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- Posted: May 15, 2024 2:35pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 271
