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Swift Lift Aided By Rolling Over In USD Index

  • Gold has seen a swift increase in recent trading, rising $10 to $2033.66, before dipping $3.
  • We don’t see specific news flow for the push higher. It looks to have been helped by a rolling over in the USD index, with the uplift for the yellow metal exacerbated by moving through the prior session highs at 2027.38.
  • It's still well within Friday's range which topped out at $2044.94 whilst resistance is seen at $2054.3 (50% retrace of Dec 4-13 bear leg).
  • Next overnight event risk from the BoJ. Preview here:

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