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Gold and silver extend gains on the.....>

COMMODITIES
COMMODITIES: Gold and silver extend gains on the back of dollar weakness this
afternoon, helping boost spot prices higher by over 0.5% for gold and near 2%
for silver.
- Spot gold now trading at the best levels since 2012, with $1,800/oz the next
hurdle for prices before the GFC highs of $1,921.17 can be considered. Gold
futures have already taken out the handle, so far topping out at $1,804.
- Silver is outperforming gold, but prices still remain below the early June
highs at $18.34 which act as first resistance.
- Most are citing swirling Coronavirus concerns as the key drivers for precious
metals today, although equities still hold modest gains at the European close.
- The strength in precious metals is helping support miners also, with
Freeport-McMoRan and Newmont Corp among the best performers in the S&P500 today.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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