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Stagnant Overnight After Tuesday's Softening


Gold has looked through the latest leg of USD strength, which became evident in Asia-Pac hours, last dealing little changed, just above $1,850/oz.

  • To recap, Tuesday saw a simultaneous uptick in the broader DXY and our weighted U.S. real yield monitor, which weighed on gold, dragging spot back from the fresh multi-month highs that were registered in the early part of the NY morning.
  • Technical resistance remains intact at the June 14 high ($1,877.7/oz). A break there would expose the June 8 high ($1,903.8/oz). Initial support is seen at the Nov 10 low ($1,822.4/oz).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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