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Slips But Still Within Recent Ranges

GOLD

Gold is tracking lower, albeit with recent ranges. We currently sit close to mid-point of the last week's range, currently around $1987.00. The last part of trading has seen the precious metal slip, as the USD has seen support post the BoJ decision (led by yen weakness). We remain above session lows of $1985 though.

  • For the past week, dips towards $1975 have been support, while moves above $2000 have ultimately drawn selling interest. For the week, gold is tracking modestly higher +0.20%.
  • US yield/USD moves will likely continue to dominate as we progress into next week.
  • Gold ETF holdings are holding near recent highs.

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