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Gold and silver extend gains to 14% for 2017

Published: 07:00 24 Feb 2017 AEDT

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Gold firmed overnight

Precious metals rallied overnight on the expectation the U.S. Federal Reserve is going to increase interest rates at a slower than expected rate.

Gold is trading at a three-month high, with New York futures for April delivery jumping 1.4% to US$1251 an ounce.

Silver rallied 1.2% to US$18.17 an ounce.

Year-to-date, both gold and silver has gained 14%.

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