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Down On The Day But Trend Conditions Bullish

GOLD

MNI (Australia) - Gold prices rose 0.9% on Tuesday on the back of signs of easing US inflation and further reopening of China, which is one of the world’s largest purchasers of gold. Today it is down 0.2% as the DXY is up 0.1% and is currently trading around $1810.75/oz.

  • It has been in a tight range with a high of $1814.61 and a low of $1809.66 today. Trend conditions remain bullish for gold.
  • There are only secondary data in the US this week. Later today the Richmond Fed index and pending home sales print. The FOMC minutes and the US ISM on January 4 are likely to be the next items of focus.

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