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Can't Sustain Move Above $1900, But On Track for 4th Straight Weekly Gain

GOLD

Gold is struggling to stay in positive territory through today's Asia Pac session. We currently sit just above $1896.50, slightly down relative to NY closing levels. The early move above $1900 ran out of momentum, as the USD recouped earlier losses. Still, the metal is on track for its fourth weekly gain, +1.65% at this stage.

  • Through Thursday's US session we saw volatile trade around the CPI release, but ultimately a test above the $1900 level. The high near $1901.50 couldn't be sustained though.
  • Upside targets look for a move to $1909.8 (May 5, 2022 high).

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