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Still Within The Lines, But Bears Look To Test Support

GOLD

An uptick in the DXY during Asia-Pac hours and consolidation of yesterday's gains in U.S. real yields leaves spot gold trading around the $1,800/oz mark at typing, a handful of dollars below settlement levels. Still, the technical picture we have outlined on many occasions remains intact.

  • Initial support is located at the July 23 low ($1,790.0/oz) and initial resistance is seen at the July 15 high/bull trigger ($1,834.1/oz).
Friday's NFP print represents the clear risk event ahead of the weekend.
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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