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Bulls Looking Higher Still

GOLD

A firmer DXY has nullified the downtick in U.S. real yields over the last 24 hours (based on our weighted U.S. real yield monitor), allowing bullion to retrace from Thursday's highs. Spot is little changed at typing, just above the $1,825/oz mark. The 61.8% retracement of the June decline now provides the main point of resistance after a show above the 50-day EMA & 50% retracement of the same move.

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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