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Softer USD Offsets Hawkish CBs, NFPs eyed

GOLD

Thursday’s hawkish takeaways re: the latest BoE & ECB monetary policy decisions only provided fairly limited & brief downside impetus for bullion, with spot quickly reclaiming the $1,800/oz. Gold then stuck to a tight range during Asia-Pac trade, last dealing a touch above $1,805/oz, little changed on the day. It would seem that the weakness in the broader USD (qs measured by the DXY) offset the uptick in U.S. real yields on Thursday. Familiar technical parameters remain intact ahead of Friday’s U.S. NFP release.

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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