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Spot Gold Rallies Above $4,125 on Wednesday, Testing $4,142.70 Resistance

GateNews
Metals
According to Kitco NewsWire, spot gold rallied above $4,120 on Wednesday (July 23), trading near $4,125.10 an ounce, up 1.19% on the session, while spot silver rose to $59.44, up 1.32%. Gold's intraday range was $4,075.90 to $4,142.70, with the metal testing the $4,142.70 resistance level. Silver traded between $58.61 and $60.11, holding above its 100-period moving average and testing $60.76 resistance. Softer U.S. inflation data, resilient economic activity, and market expectations for the Federal Reserve to hold rates at next week's meeting supported the rebound.
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