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Bulls In Charge

GOLD

Wednesday's downtick for U.S. real yields and an unwind of some of Tuesday's broader USD strength supported bullion, leaving spot to deal around the $1,825/oz mark during Asia-Pac hours. With the 50-day EMA & recent intraday highs now cleared, bulls look to some Fibonnaci levels related to June's decline ($1,833.7/oz & $1,853.3/oz) as the next areas of resistance. Further comments from Fed Chair Powell will likely garner most of the attention on Thursday.

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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