After a day of consolidation, gold gathered momentum and resumed its rally again. The benchmark contract soared to as high as 1277.9 (a new record high) in European session. Renewed weakness of USD against JPY, as well as other currencies, helped push gold higher. While the market has focused on gold’s record-breaking rally, others in the precious metal complex also saw lucrative nominal returns in recent days. Silver, after breaching the psychological level at 20, extended gains for a 4th day and is currently trading at 20.7, the highest level since March 2008.
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Gold New High Again as USD Weakens
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