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Looking Below $1,900/oz

GOLD

The post-U.S. data reaction sees spot gold below $1,900/oz for the first time since March (low of $1,898.3/oz), before a show back above the figure. Our weighted U.S. real yield measure has moved through the recent closing highs, which will be adding pressure to bullion.

  • Technically, fresh trend lows reinforce current bearish conditions, confirming a resumption of the downtrend and extending the price sequence of lower lows and lower highs. The focus is on the Mar 15 low ($1,885.8/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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