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Why Gold & Silver Jumped Overnight

Gold jumped 4.4% from Tuesday’s close in Wednesday’s US trade, landing near USD 4,522/oz. Silver did better still, up over 6% and back above USD 67/oz. What lit the fuse was one very specific headline, that the US Treasury would double buybacks of long-dated Treasuries. This came out of the blue, and affects the 10-to-30-year

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Gold Blasts to 2-Month High, Inflation Data Eases Fed Rate Hike Concerns

Gold moved above $4,400 an ounce this week boosted by news that July inflation data was subdued, likely easing pressure on the Federal Reserve to hike interest rates. Gold jumped to a two-month high. Bullion has climbed swiftly in recent days as the near-term trend turned strongly positive for the precious metal. Consumer inflation rose...

The post Gold Blasts to 2-Month High, Inflation Data Eases Fed Rate Hike Concerns appeared first on Blanchard and Company.

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