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PRECIOUS METALS: Gold Gains on Russia Retaliation Headlines

PRECIOUS METALS
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Spot gold gains on the back of that Russia headline, with markets gearing for a likely further escalation in tensions between Moscow and Kyiv - which may imply that the suspected use of an intermediate-range ballistic missile last week was not the direct response to the ATACMS use, which is still to come.

  • Gold gains ~$10/oz on the move, touching a new daily high in the process. Weekly highs still someway off at $2721.4, but is clearly benefiting from the ratchet higher in geopolitical tensions.
  • Silver still outperforming on the day, however, with gold/silver ratio remaining at the daily lows, despite the recent move.
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Spot gold gains on the back of that Russia headline, with markets gearing for a likely further escalation in tensions between Moscow and Kyiv - which may imply that the suspected use of an intermediate-range ballistic missile last week was not the direct response to the ATACMS use, which is still to come.

  • Gold gains ~$10/oz on the move, touching a new daily high in the process. Weekly highs still someway off at $2721.4, but is clearly benefiting from the ratchet higher in geopolitical tensions.
  • Silver still outperforming on the day, however, with gold/silver ratio remaining at the daily lows, despite the recent move.