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The yellow metal failed to capitalise on the...>

GOLD: The yellow metal failed to capitalise on the broader risk off tone
observed in Asia-Pacific dealing, as it consolidated the losses inspired by the
FOMC meeting minutes, last trading pretty much flat at $1,324/oz, with US
10-Year yields 2bp or so from US session highs.
- Topside hesitation ahead of 2018 highs ($1366.0) & the 2016 high resulted in
breaks of key supports with bears gaining confidence and focus on $1298.6-1313.0
where 55 & 100-DMAs are situated. Bears look for a close below the 100-DMA to
hint at a move targeting 2018 lows ($1236.5) with below the 200-DMA ($1285.8) to
confirm. Bulls need a close above $1251.3 to return focus to $1367.3-1374.9.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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