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Range Trading

GOLD

Spot remains hemmed in its recently observed range, leaving well-defined technical parameters intact, as participants zero in on Thursday’s U.S. CPI release (with the well-documented global fears re: inflation and recent hawkish turns from the likes of the ECB & BoE front & centre). Tuesday’s pullback from best levels for both our U.S. real yield monitor and the DXY allowed gold to register fresh session highs into Tuesday’s NY close, with bullion finishing just below best levels. Tuesday’s peak has held in narrow Asia-Pac dealing, with spot little changed, just shy of $1,830/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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