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A Touch Weaker In Asia

GOLD

A slightly firmer USD and uptick in e-minis has kept a lid on gold during Asia-Pac hours, allowing the space to consolidate after spot pulled away from well-defined resistance levels on Friday, unwinding 2/3 of the weekly gains lodged through Thursday in the process. That leaves spot dealing a handful of dollars softer at $1,810/oz at typing, within a now familiar technical layover. Note that known ETF holdings of bullion nudged higher last week. Our weighted U.S. real yield measure hovers just above the all-time lows that were printed in the middle of last week. ISM m'fing data headlines the broader risk docket on Monday, with Friday's NFP print and Wednesday's address from Fed Vice Chair Clarida providing some notable points of reference for participants this week.

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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