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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI US OPEN - RBA Holds, Communication Turns Slightly Dovish
MNI China Daily Summary: Tuesday, December 10
Gold is slightly lower in Asia-Pac trade,......>
GOLD: Gold is slightly lower in Asia-Pac trade, last off $1.16 at $1,268.48. The
yellow metal has seen a downward trend this session, just dipping off highs hit
on Friday after jumping around $10/oz after new of the latest North Korean ICM
test and weaker US GDP data on Friday.
- The North Korea situation will likely support gold going forward, over the
weekend the US flew two supersonic bombers over South Korea in a show of force
and China has urged North Korea to cease actions that could escalate tensions
further.
- Sources note month-end flows could dictate the price of gold today, gold is
currently up 2.17% so far this month.
- MNI technical analysis sees support at $1262.2 hourly support July 28,
resistance is seen at $1273.5 bollinger band top. Bears failed to capitalise on
the dip Wednesday with gold finding support ahead of $1242.4 and resulting in a
close above the $1258.8 resistance that shifted initial focus to $1280.8 and
overall focus to tests of 2017 highs. The Bollinger top & O/B studies remain key
concerns.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.