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Rallying Following Soft U.S. Data, Technical Consolidation Theme Intact

GOLD

The generally softer-than-expected U.S. labour market and ISM services survey data allows gold to break above $2,360/oz, adding over $30/oz as the USD softens and Tsys rally.

  • Our technical analyst notes that spot continues to trade in consolidation mode.
  • Initial firm resistance is located at the Jun 7 high ($2,387.8/oz)
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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