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Precious Metals Rebound on July 23 as Central Banks Continue Gold Purchases

2026-07-23 12:45:18

According to Sanli Futures research on July 23, precious metals rebounded as central banks maintained steady gold purchasing support. The market has largely priced in ongoing U.S.-Iran tensions, while the Federal Reserve entered its communication blackout period with no immediate hawkish signals weighing on bullion. Gold prices recovered buying interest at lower levels. Short-term technicals show oversold conditions improving, though the longer-term outlook remains capped by elevated U.S. interest rate expectations.

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