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Flat In Asia, Upcoming Event Risk Eyed

GOLD

Bullion is little changed, printing just above $1,805/oz, sticking to a very narrow range in Asia-Pac hours, after a downtick in the broader DXY supported gold on Wednesday. Softer than expected U.S. ADP employment data & continued focus on geopolitical tension surrounding Russia dominated yesterday’s headline flow, doing gold bulls no harm. Still, a familiar range remains in play, meaning the technical parameters that we have fleshed out in recent days remain intact.

  • Looking ahead, Thursday’s BoE & ECB monetary policy decisions will provide some interest for participants, although more focus will be afforded to Friday’s U.S. NFP release.
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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