Gold, silver rebound on month-end short covering

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A downbeat U.S. consumer confidence index released at mid-morning was the catalyst that started the rebound to higher price levels, from lower prices seen overnight in both metals. The key outside markets this morning see the U.S. dollar index slightly up. Nymex crude oil futures prices are solidly higher and trading around $77.50 a barrel, also supporting the metals market bulls on this day. The yield on the benchmark U.S. 10-year Treasury note is presently fetching 3.936%.

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