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Bullion Under Modest Pressure To Start The Week


Spot gold has held to a ~$5/oz range during Asia-Pac hours, last trading a handful of dollars lower at $1,792.4/oz, as U.S. Tsy futures come under fresh selling pressure (cash Tsys are closed until London hours owing to a Japanese holiday).

  • To recap, our weighted U.S. real yield monitor tested Thursday’s highs in the wake of Friday’s U.S. NFP release (solid prints in the supplementary metric outweighed a miss in the headline print), before backing off. The initial impulse allowed gold to challenge the channel base drawn off the Aug 9 low, bottoming at $1,782.8/oz, which held & continues to provide initial technical support.
  • Wednesday’s U.S. CPI print is front and centre when it comes to the focus of market participants.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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