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Gold stuck to a tight range overnight and......>

GOLD
GOLD: Gold stuck to a tight range overnight and last deals $2 lower at $1303/oz.
- The lack of follow through on recent 2018 lows combined with oversold studies
has provided the impetus for a bounce that sees gold pressuring the 200-DMA
($1307.1). Bulls need a close above the low from May 10 ($1310.5) to confirm
breaks of the 21 & 200-DMAs and shift initial focus to $1321.9-1326.2 where 55 &
100-DMAs are noted. Bears now need a close below the May 23 high ($1297.8) to
ease pressure on the 200-DMA and return immediate focus to 2018 lows.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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