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Gold based ahead of the psychological $1400....>

GOLD
GOLD: Gold based ahead of the psychological $1400 level yesterday, before
rallying +$30 towards the NY close.
- The risk averse theme on persistent global trade concerns and a flurry of soft
earnings saw the dollar pare light gains. The break back under 3,000 in the S&P
500 was the reported trigger through the US afternoon which saw gold briefly
spike above $1430, before easing ahead of the close.
- The yellow metal last trades $4 lower on the session, last $1422.50.
- Yesterday's candle was a bullish engulfing as gold continues in its
symmetrical triangle formation. Triangle top resistance comes in today around
$1434.9. Key support remains at $1400, ahead of the triangle base around
$1389.8.
- Quiet on the US calendar today with main highlights from Initial Jobless
Claims & Philly Fed index. Speeches also due from Fed's Goldberg & Williams. 

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