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Support Pierced

GOLD

The post-FOMC USD strength and push higher in U.S. real yields has weighed on bullion, with spot last dealing around $1,820/oz vs. ~$1,860/oz pre-FOMC. Current levels represent a ~$15/oz bounce from Wednesday's low after bears failed to launch a real challenge of $1,800/oz. Still, with trend support pierced, bears look to force a break of $1,800/oz which would expose the May 6 low ($1,785.1/oz).

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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