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The softer USD has supported the yellow........>

GOLD
GOLD: The softer USD has supported the yellow metal in recent dealing, with gold
last trading at $1232/oz.
- The aggressive bounce to end last week after downside follow through was
lacking is less than ideal for bears when combined with daily studies correcting
from oversold and the proximity of the Bollinger base ($1222.6). In saying that,
bulls still need a close above $1236.6 to gain breathing room and above $1260.2
to return initial focus to $1271.4-1272.6 where the 100-WMA is noted. Bears
remain focused on $1204.6 while $1236.6 caps.
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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