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Market Report: Interest rate scare + MORE

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Commodities generally weakened, led by metals amidst rising US dollar and concerns over moderation of the global growth outlook as the Fed hikes interest rates in summer. Metal Bulletin’s iron ore index plunged almost -6% to close at US$53.47/tone, the lowest level since March 15. Besides, US rate hike speculations, iron ore prices were dampened by rising supply…

Continue Reading On oilngold.com »

Gold and silver had a down week, correcting some of their overbought condition.
Gold fell from Monday’s peak of $1288 to a low point yesterday (Thursday) of $1245, and silver from $17.40 to $16.35. Both metals rallied into Thursday’s close, and in early European trade this morning (Friday) gold was $1254 and silver $16…

Continue Reading On .goldmoney.com »

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