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Gold and Silver Posting Historic Gains

Gold and Silver Posting Historic Gains

Precious metals were rising in early trading, with both gold and silver posting gains. Gold futures rose 0.5% to $2,293 a troy ounce, while LBMA silver rose 4.5% to $25.65 a troy ounce, a two-year high. The trigger for gold's rise over the last month is unclear, with some attributing the surge to Middle East developments and other to dovish Fed official statements, though neither explanation seems convincing, Commerzbank analysts said in a note.