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Gold continues to fail to improve on the.......>

                                            GOLD: Gold continues to fail to improve on the recent highs, despite the
                                            cautious tone surrounding markets and ever growing  worry re: coronavirus, as
                                            participants continue to point to crowded longs and margin call requirements in
                                            other assets leading to liquidation in yellow metal longs.
                                            - Spot last $1,636/oz, little changed on the day.
                                            - Bears look for a break below $1632.0/oz, the Mar 4 low, after yesterday's
                                            close below the Mar 10 low. A consolidated break below the former would see them
                                            switch their focus to the 50-EMA. Recent highs present the only real initial
                                            resistance of note.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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