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Quiet Trade As Metals Try To Consolidate

Commentaries & Views

(Kitco News) - Metals are trying to consolidate at these levels after the strong bounce following the Fed rate increase. There is some concern, as the G-20 meeting begins, that the U.S. may be somewhat aggressive in its stance of America first and potential protectionist measures.  Would not expect gold to surprise today, with the range likely to be contained between $1,220- $1,235. The elections in Holland quelled fears that the growing populist trend is accelerating, which took some of the safe-haven edge away from gold, but on the other hand a weaker tone to the dollar has supported continued buying.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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