Precious metals rallied as central banks lack meaningful actions in response to recent economic developments. Meanwhile, disappointing US GDP growth weighing on the prospects of Fed funds rate hike also supported the complex. Gold price resumed the uptrend for the first time in 3 weeks. Settling at 1349, highest level in more than 2 weeks, the benchmark Comex gold contract was up +1.96% last week.
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Weekly Fundamentals – Precious Metals Strengthened across the Board
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