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The yellow metal has recovered from worst......>

GOLD
GOLD: The yellow metal has recovered from worst levels, but still sits $9/oz or
so lower on the day, printing at $1,538/oz at writing, pressured by risk-on
sentiment stemming from the U.S. removing China's FX manipulator title in the
latest version of the semi-annual FX report from the U.S. Tsy. Comments from
U.S. TR Lighthizer, pointing to the phase 1 Sino-U.S. trade deal being "about
finished" re: the translation, as well as an inclusion of commitments re: FX
manipulation, per RTRS headlines, once again citing the U.S. TR, applied further
pressure.
- Selling once again accelerated around the re-open of Chinese futures.
- Support at the Jan 8 low has been breached, with the next level of support
located at $1,528.6/oz, the 50% retracement of the Nov 12-Jan 8 rally.
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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