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Gains Remain Corrective, Key Resistance Still Some Way Off

GOLD

Spot gold has stuck to a narrow range during Asia-Pac hours, last dealing essentially flat at $1,822/oz. This comes after U.S. real yields and the DXY moved away from best levels on Monday, adding some support to the space. Worries re: Russia-centric geopolitical risks also helped support bullion. Note that meaningful technical resistance is not seen until the Jan 25 high/bull trigger ($1,853.9/oz), with any gains considered corrective if that level is not breached.

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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