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Staying Above its 50-day EMA

GOLD

Gold broke to its lowest level for two weeks yesterday but has since recovered some of its lost ground as concerns about the Oxford vaccine tests being suspended have impacted the market. Our technical analyst notes that the 50-day EMA was not breached yesterday but that the yellow metal remains vulnerable. At writing fold was trading $4/oz lower on the day at $1,928/oz. The August 26 low of $1,902.9 remains the key near-term support.

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