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$2,000 Or Bust

GOLD

Bulls have regained the upper hand since yesterday's positioning/flow
driven vol. (witnessed in Asia-Pac & early European hours on Tuesday),
with spot last dealing back around ~$1,955/oz. While the recently minted
all-time highs provide the initial source of resistance, it is fair to say that
bulls are focused on challenging the psychological $2,000/oz level.
Goldman Sachs' price target upgrade (extending on their long held bullish
view) has garnered most of the attention on the headline front, with talk of
headwinds for the dominance of the US$, focus on real U.S. yields
& ever-present COVID-19 worry providing familiar sources of reference.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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