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Gold trades $3 higher at $1,314/oz, and as.....>

GOLD
GOLD: Gold trades $3 higher at $1,314/oz, and as ever will likely be at the whim
of the rhetoric at the upcoming FOMC decision.
- The technical picture is unchanged in that support emerging on dips back
towards the 100-DMA is less than ideal with narrowing Bollinger bands hinting at
a break out. In saying that, bulls need a close above the 21-DMA to ease bearish
pressure and above $1330.0 to confirm a break of the 55-DMA ($1329.3), shifting
focus to $1340.7-1351.3. Bears need a close below $1302.5 to hint at a move back
to $1235.9 and below the 200-DMA to confirm.
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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