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Rise $12

GOLD

Gold spikes $12 (>1%) in the past 30 minutes, but very little spillovers from or into the the USD

  • The Dollar just fades some of the bid as Equity futures recovers.
  • Despite the lower US cash Equity open, large buying have gone through in S&P and NQA futures.
  • S&P was bought in over 30k (cumulative volumes), and Nasdaq 5k.
  • US Govie are also seeing better buying in the longer end, with another 4k bought in TY and 2k in USA.
  • Gold MNI tech next resistance, comes at $1755.5 - High Mar 18

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