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Gold, Silver Analysis: Precious Metals Poised to Break Out?
Today’s rather slow economic calendar has left little in the way of new catalysts for markets, and as we all know from our high school Physics classes, absent any force opposing it, an object in motion tends to stay in motion. For today’s trade, that means more marginal gains in US indices, a narrowly mixed day for the US dollar, and a continued recovery in precious metals like gold and silver. Below, we reset the medium-term technical outlook for both gold and silver. chart For its part, gold is making another run at its 3-week high around $2385 after getting rejected from that resistance level earlier this ... (full story)