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Back To Familiar Territory After Look Below Support

GOLD

Gold pushed through initial technical support on Monday (in the form of the Dec 7 low at $1,822.5/oz), but failed to close below as the early risk positive flows waned and U.S. real yields retraced. Spot has moved back towards the familiar $1,835/oz level, although bears remain focused on yesterday's low of $1,818.90/oz. A break there would expose the Dec 2 low at $1,807.5/oz. To the upside, familiar bullish targets remain in focus.

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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