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Supported, With Bulls Looking To Key Resistance

GOLD

The broader DXY is threatening a clean break below Monday's lows, while our weighted U.S. real yield monitor is holding on to most of yesterday's losses. These factors supported bullion on Wednesday, with relatively sedate trade subsequently witnessed in Asia hours, leaving spot a handful of dollars higher, just above $1,785/oz. Bulls still need to take out the October 14 high ($1,800.6/oz), which forms key short-term resistance, before they can turn their focus higher.

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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