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DXY & U.S. Real Yields Lend Support, ETF Holdings Continue To Fall

GOLD

Wednesday's move lower in the DXY and U.S. real yields allowed bullion to build on the bounce from the recent lows, with the impetus spilling over into Asia-Pac trade, with spot last dealing +$5/oz at $1,732/oz. After the formation of a bullish engulfing candle on Tuesday bulls target the 20-day EMA as the first technical resistance target of note.

  • We should also flag that ETFs have shed their holdings of gold for 18 consecutive sessions.
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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