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GOLD: After breaking above the $1510.5 monthly trend channel resistance
yesterday morning, gold extended gains as far as $1535.1. However after
retracing around $15 in early North American trade, gold fell as far as $1480 on
the back of the USTR tariff headlines.
- Around an hour after the tariff news broke, the yellow metal stabilised and
has been trading in a $1495-1505 range since then.
- From a technical standpoint, the bullish outlook remains.