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Precious Metals Update

Written on 14th April, 2020

A firm session for the precious with gold reaching new recent highs above 1700.
Asia trade was relatively mute due to the holiday.
Some light buying in Europe pushed the yellow metal north of 1690 leading into NY.
NY were buyers throughout the entire session.
Stop loss buying on the break of 1700 saw gold run up to a high of 1723.
Silver also edged higher, but not to the same extent as XAU, only posting a gain of 25 cents on the day.
Palladium pushed higher, breaking back above 2200 to close at 2260.
The Philadelphia Gold and silver index surged 7.08% to close at 105.17.