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A slight downtick for the yellow metal on......>

GOLD
GOLD: A slight downtick for the yellow metal on the back of the BBG headline
which suggested that China is said to be preparing to buy more U.S. pork. As we
noted elsewhere, there isn't really a game changer that will address the
underlying issues of the trade war.
- Spot last trades $3 or so lower at $1,529/oz.
- The downtick in U.S. yields has supported gold over the last 24 hours or so,
with the impeachment movement against President Trump, the President's hawkish
commentary re: Iran & China and a downtick in U.S. consumer confidence all
helping gold bulls.
- They now look to force a break above yesterday's high at $1,535.7/oz. Bears
need a move back below uptrend support drawn off the May 30 low to shift focus
lower.
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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