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Gold, silver extend breakout as U.S. dollar slides below 99 - Kitco AM Report - KITCO

Source: KITCO

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DW NOTE

The dollar index fell below 99 as gold and silver extended a week-long rally that began after the Hormuz ceasefire failed to materialise. Gold closed at $4,575, silver at $68.28 — both running on the same currency debasement trade that's now 129 days into a blockade the Fed still pretends is transitory.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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