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GOLD

Bullion has coiled during Asia-Pac hours, leaving spot little changed at ~$1,815/oz. Gold has stuck to a narrow range, even with wider risk appetite operating in a two-way fashion. Participants have shown a lack of commitment to pushing the envelope in either direction over the last 24 hours, which leaves a familiar technical backdrop in play.

  • Note that known ETF holdings of gold have started to pare back from the recent high over the last month or so, which has removed a leg of support for bullion. That particular metric now sits a little over 2% shy of its April YtD peak.
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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