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Despite US equity markets sinking (DJIA is.....>

GOLD
GOLD: Despite US equity markets sinking (DJIA is now down circa 5% from all-time
highs), gold is failing to benefit, trading roughly flat on the day at
$1,334/oz. The recovering greenback is partially responsible (USD is now top of
the pile in G10 FX), but rising treasury yields are also sapping gains from the
yellow metal. Gold printed a two-week low on Friday at $1,327/oz which, if
broken, would open up a move toward $1,300/oz, a move which would erase 2018's
gains. $1,301.35 also marks the 50% retracement level of the Dec-Jan rally
($1,236.55-1,366.15).

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