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Still Below Bear Trigger

GOLD

Gold has softened over the last 24 hours or so, but recovered from Wednesday's worst levels (around $1,770/oz), to last print $7/oz higher vs. settlement levels at $1,783/oz. Longer dated real U.S. yields are little changed over a 24 hour horizon, with the DXY a touch firmer. Wednesday's move represented a breach and close below the bear trigger in the form of the Feb 4 low, allowing those of a bearish disposition to switch focus to key support at $1,764.8/oz, which represents the Nov 30 '20 low.

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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