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According to Comerzbank analyst Carson Fritch, price fluctuations in gold and silver are only temporary with upward trends to temporarily raise prices. “Gold and silver recovered quickly from yesterday’s shock, although they have not yet recovered all their losses … The rapid recovery makes it clear that the market wants to move prices up further, hence the record high A renewed bid is likely for, ”Fritsch. Price dips also trigger significant purchase interest. “Yesterday’s price slide aroused considerable buying interest: Bloomberg-tracked Gold ETFs recorded an inflow of 17.5 tonnes. These were not limited to the SPDR Gold Trust alone, either, which accounted for about half of the flows. Also, the influx yesterday was the most pronounced one day in more than five weeks. Inflation in gold ETFs stood at a total of 148 tonnes since the beginning of this month. No outflow has been seen in July so far.
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