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Resistance Defined


Gold was capped by the Nov 10 high back on Friday, when a lower DXY and dip in our weighted U.S. real yield metric supported bullion, although spot has drifted away from the resistance zone established last week ($1,868.7/oz), last dealing a handful of dollars lower at $1,858/oz. A break through $1,868.7/oz would expose the June 14 high ($1,877.7/oz). Initial support comes in at the Nov 10 low ($1,822.4/oz). Market-based U.S. inflation dynamics and Fedspeak will likely drive bullion throughout this week.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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