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Bears In Control

GOLD

Our weighted U.S. real yield monitor has stabilised and sits a little shy of Wednesday's highs, with the DXY trading ever so slightly softer after Wednesday's rally saw it tap a ~1-Year peak. This has allowed spot gold to add ~$5/oz, operating just above $1,730/oz. Gold bottomed out at $1,721.7/oz, which now acts as initial support. A break below there would open the way to the Mar 31 low ($1,678.0/oz).

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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