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Silver is driving a precious metals rally while gold is being pulled behind it.Though there was a shaky start for precious metals this week,,both are able to end the week with a strong,bullish note.

As per market analysts inflation data from China and united states is the main concern and is currently main driver of both metals.

Spot Silver ended at $43.05 while Gold ended at $1486,,still showing no signs of any setback.

Though rally is continuing analysts have warned investors about overdue correction in precious metals which will be on higher side whenever it will happen and low risk traders should remain away from the market.Risk is growing as silver prices have grown more than 100% in last 1 yr.

Now COMEX Gold have a support of $1455 while resistance can seen at $1520 levels.

While silver have support of $38 and probable hurdle around $48.Silver have historical life time top of $52 made in 1979.

Category: Commodities


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