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The yellow metal has fallen afoul of the.......>

GOLD
GOLD: The yellow metal has fallen afoul of the stronger USD & 10-Year US yields
consolidating around 2.9% in recent sessions, and could be subject to further
downside if the FOMC minutes (due Wednesday) come down on the hawkish side.
- Gold trades around $2.50/oz softer in Asia, last at $1,326 there or
thereabouts.
- Topside hesitation ahead of 2018 highs ($1366.0) & the 2016 high resulted in
breaks of key supports with bears gaining confidence and focus on $1298.1-1311.6
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 ($1285.4) to
confirm. Bulls need a close above $1251.3 to return focus to $1367.3-1374.9.
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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