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Offered On Firmer USD & DC Fiscal Expectations

GOLD

Gold has struggled in Asia-Pac hours, with spot showing ~$18/oz lower, around the $1,830/oz mark at typing, trading through the 200-DMA after Friday's show below. Bears now look to the Dec 02 low at $1,807.5/oz. Focus has generally fallen on the broader USD strength seen in Asia-Pac hours and the prospect for higher U.S. yields surrounding the fiscal impulse that is expected to come to the fore in DC, with gold paying little attention to some of the more risk-negative news stories that crossed over the weekend. As a reminder, a Japanese market holiday has thinned out participation during Asia-Pac hours.

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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