Commodities traded with a firm tone in European sessions as USD plunged against major currencies, with Japanese yen and British pound being exceptions. Rate hikes by central banks in Australia and India, ahead of the FOMC meeting, have widened interest rate differentials between these countries’ currencies and the dollar. Precious metals remained strong with gold approaching 1360 and silver staying at elevated level after spiking to a new 30-year high of 25.055 yesterday. WTI crude oil is expected to rise for a second consecutive day with fuel prices trading with a similar pattern
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Gold Rises as Yield Differentials Send USD Lower
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