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Precious Metals Trade Very Heavy in Early US Hours

GOLD

Gold trading very heavy as USD picks up markedly on those better than expected PMIs and as equities fly out of the gate on the cash equity open. Gold breaking below the Sep low support to hit the lowest levels since July 22nd.

MNI Tech points to support at the 38.2% retracement of the Mar - Aug rally at 1,837.10. A break through here opens July 8th highs of 1,818.00

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