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Gold resistance at $1,600; end user demand for Platinum near $1,400, Palladium near $600
NEW YORK (Commodity Online): Gold to find resistance around $1,600 an ounce but says industrial-type buying is emerging around $1,400 platinum and $600 palladium, said TD Securities in a snippet. TDS is the global wholesale banking arm of Toronto-Dominion Bank Financial Group.
According to the firm, gold lost a bullish catalyst when Federal Reserve Chairman Ben Bernanke’s Thursday congressional testimony was construed to mean quantitative easing is back off the table, says TDS.
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