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METALS: August gold futures closed up $0.80 an ounce at $1,247.20. Prices closed near mid-range. Gold could not benefit from bullish outside markets that saw a sharply lower U.S. dollar index and higher crude oil prices. The gold bears have the overall near-term technical advantage as prices are in a three-week-old downtrend on the daily bar chart.
September silver futures closed down $0.006 at $16.625 today. Prices closed near mid-range today. The silver bears have the firm overall near-term technical advantage.
September N.Y. copper closed up 230 points at 256.15 cents today. Prices closed nearer the session high and hit a seven-week high today. The copper bulls have the overall near-term technical advantage. Prices are in a seven-week- old uptrend on the daily bar chart.