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Both gold, platinum prices consolidating in high ranges
Refinery services provider Heraeus says gold prices continue to show a consolidation trend following record prices late in December, which means prices are moving within a specific, range-bound pattern and not trending sharply up or down. Gold prices closed the week ended February 20 at $5 067/oz. Some near-term headwinds for gold include a strengthening dollar; however, interest rate cuts later in the year, which are anticipated by market stakeholders, may be supportive of higher prices. The market is not predicting interest rate cuts until June, but three or more rate cuts are likely toward the end of the year. ... (full story)