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The yellow metal approached the June 2 high....>

GOLD
GOLD: The yellow metal approached the June 2 high of $1,745.4 yesterday but
failed to break through. At the time of writing gold is around $12/oz off
yesterday's peak at $1,732 but this is also $5 above yesterday's close.
- A dovish Fed, lower for longer yields and risk off sentiment with the risk of
a second Covid-19 peak in the US all helped gold move higher yesterday but
trading conditions remain choppy.
- From a technical perspective, the recent moves higher have offset some bearish
warning signals that had been emerging and kept the bull trend intact. Gold
needs to clear the $1745.4 level to refocus attention on the key May 18 trend
high at $1,765.4.

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