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Gold prices cannot find a firm bid, with the...>

GOLD
GOLD: Gold prices cannot find a firm bid, with the US's threat of sanctions on
countries that buy oil from Iran having no impact on the metal. The metal trades
at 1,256, with the next level of support coming in at the Dec 2017 low of 1,240.
- The trend is clearly bearish and given the still-lofty XAU/XAG ratio and
still-bullish net speculative positioning there is room for significant
declines. 
- Some fundamental support may come from the recent drop in US real yields,
particularly at the long end thanks to the drop in breakeven inflation
expectations. 

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