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GOLD

After Wednesday's 2-way fluctuations (rallying on much softer than expected U.S. ADP employment data, before turning negative on a record rate of expansion for the headline ISM services survey and comments from Fed Vice Chair Clarida that we have documented elsewhere) bullion managed to settle back into familiar territory, sticking to the $1,810/oz level in Asia-Pac hours.

  • The well-defined technical overlay remains intact, with initial support located at the July 23 low ($1,790.0/z) and initial resistance located at the July 15 high/bull trigger ($1,834.1/oz).
Friday's U.S. NFP print presents the next major round of event risk.
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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