Axel Rudolph News
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Silver may climb toward $25 an ounce after prices rebounded from the lowest level since September 2010, according to technical analysis by Commerzbank AG.
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Gold’s rally from a two-year low may not endure as the metal will probably drop to test a key support at $1,227.20 by the end of the year, according to technical analysis by Commerzbank AG.
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Gold’s rally to a record above $1,900 an ounce has pushed the metal to overbought levels according to technical analysis tools, as economist Dennis Gartman said prices will go “parabolic.”
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The euro may weaken 1.2 percent against the pound to as low as 86.12 pence should it break below a key area of support, according to Commerzbank AG, citing trading patterns.
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Gold, which climbed to a record last month on concern that the global economic recovery may be faltering, may slide to the lowest price since May, according to a technical analysis from Commerzbank AG.
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Gold may rise to about $1,350 an ounce in three weeks after prices resumed gains to a record, according to technical analysis by Commerzbank AG.
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Cocoa may extend declines to a nine- month low of 1,995 pounds ($3,115) a metric ton in London in the coming weeks after falling through previous support levels, according to technical analysis by Commerzbank AG.
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The euro may decline to $1.20 within three months as its runs into resistance levels following its rally over the past week, according to Commerzbank AG, citing trading patterns.
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Gold may rise to $1,560 an ounce by the end of the year, indicating a 7 percent gain, according to technical analysis by Commerzbank AG.
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The dollar may weaken to 80 yen, approaching its postwar low, should it drop below a key level, Commerzbank AG said, citing technical indicators.
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