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Gold Breaks Key Support on Move Lower

COMMODITIES

Gold traded sharply lower yesterday. The move down resulted in a break of support at the 50-day EMA - at $1951.1. A continuation lower would threaten the recent bullish theme and instead expose support at $1924.5, the Jul 11 low. The uptrend in WTI futures remains intact and this week’s climb confirmed a resumption of the bull cycle. The break above $77.15, the Jul 13 high signals scope for an extension towards the next key resistance at $81.44, the high on Apr 12 / 13.


  • WTI Crude down $0.07 or -0.09% at $79.96
  • Natural Gas up $0.01 or +0.31% at $2.602
  • Gold spot up $3 or +0.15% at $1949.12
  • Copper up $1.55 or +0.4% at $388.85
  • Silver up $0.03 or +0.11% at $24.1613
  • Platinum up $2.61 or +0.28% at $939.66
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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