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Key Resistance In Sight

GOLD

A downtick for the broader USD has supported bullion over the last 24 hours or so, even as our weighted U.S. real yield measure ticked away from all-time lows. Asia-Pac trade has been relatively limited, with spot printing little changed, just shy of $1,830/oz at typing. Initial resistance is located at the nearby July 15 high/bull trigger ($1,834.1/oz). Any sustained break there would allow bulls to switch focus to the 61.8% retracement of the Jun 1-29 decline ($1,853.3/oz).

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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