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Range Is Now Defined

GOLD

Very modest upticks in U.S. yields and the broader USD have provided light pressure for gold during Asia-Pac hours, with spot last dealing a handful of dollars lower around $1,886/oz. To recap, our weighted measure of U.S. real yields moved back to Thursday's lows on the back of Friday's softer than expected headline NFP print, with nominal yields lower on the day, while breakevens were little changed. A defensive round of post-data dealing for the broader USD also helped support gold. Still, bulls failed to reclaim the $1,900/oz, with no substantial movement on the technical front seen.

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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