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Dj Ny Precious Metals Review: Gold, Silver Hit By Liquidation

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Gold and silver futures fell sharply Tuesday largely due to long liquidation

after gold had risen to quarter-century highs on Monday, traders and analysts

said. Some of the selling was from funds, they added.

February gold fell $4.80 to $545.70 after hitting a life-of-contract high of

$553.10 in screen trading roughly an hour after Monday's pit-session close.

March silver lost 26.8 cents to $9.015.

"People are just taking some money (off the table) after this last run," said

Frank Lesh, futures analyst with Rand Financial Services.

A trader commented that the $550 area had been an upside objective for many

market participants, thus some opted to book profits after this target was


"A profit-taking move seemed to start overnight when the market didn't push

up through yesterday's highs," said Lesh. "Clearly, the longs up here are a

little bit nervous about things. They are going to be quick to bail out when

things go against them up here. It doesn't mean that we're not in an uptrend

any more. But gains are going to be a little harder to come by, I believe."


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the world has only 3 sorts of people. those who make the news, those who watch the news, those that follow the news.

and then get BURNT. :)

that's good - I'm going to try to remember that one :)

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  • 302 Brexit, House prices and Summer 2020

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      • down 5% +
      • down 2.5%
      • Even
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