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From liquidation to consolidation: precious metals seek a floor
Precious metals are attempting to establish a floor after several months of heavy liquidation, technical damage and rapidly shifting macro narratives. Gold’s rebound towards USD 4,200, silver’s recovery back above USD 60 and renewed interest in platinum all suggest that hard-asset demand has not disappeared. However, the sector has moved from being aggressively bid to selectively accumulated, and the next move will likely depend on whether macro conditions continue to ease or once again turn hostile. Gold extended its rebound after a weaker-than-expected US jobs report reinforced Federal Reserve Chair Kevin ... (full story)
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