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Softening In Asia

GOLD

An uptick in U.S. Tsy yields and a firmer USD have weighed on bullion in Asia-Pac hours. This comes after a relatively contained, two-way Wednesday session, in which bullion failed to capitalise on the twist flattening observed on the broader U.S. Tsy curve.

  • Spot deals ~$10/oz cheaper at $1,763/oz, with the technical picture little changed from what we outlined earlier in the week.
  • The Fed pivot/pause debate (at least on the part of market participants, as opposed to via Fedspeak) and USD dynamics will continue to dominate for gold in the immediate term, with elevated sensitivity to inflation readings and indicators set to remain evident.
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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