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50-Day EMA Breach, Bulls Eye Key Resistance Next

GOLD

The post-U.S. CPI move lower in the greenback and U.S. real yields leaves spot gold at the highest level since Jun 19, hovering a little below $1,960/oz, the best part of $65/oz off recent lows. The 50-day EMA has been breached, with key resistance located at the 24 May high ($1,985.3/oz). Bulls need to force a break there to add to add further steam to the recent corrective rally.

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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