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Probing $1,800/oz

GOLD

The softer USD has allowed bulls to test $1,800/oz in Asia-Pac spot trade, with the round number holding firm thus far, last dealing at $1,797/oz. From a technical perspective spot is now through the Jul 2 high, with any break above the $1,800/oz mark set to expose the nearby 20-day EMA. Above there bulls will look to the June 17 high ($1,825.4/oz). Initial support is seen at the June 29 low ($1,750.8/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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