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The yellow metal has shed a handful of.........>

GOLD
GOLD: The yellow metal has shed a handful of dollar's in Asia-Pacific trade, and
last deals back below the psychological $1,500/oz level at $1,498/oz after the
PBoC set the USD/CNY fix at a lower level than expected (albeit above the key
CNY7.0000 threshold), in turn supporting risk appetite.
- From a technical perspective, gold failed to close above its monthly trend
channel top at ~$1,508/oz, despite a foray above on Wednesday. A clean break and
close above here would allow bulls to start to eye $1,680/oz, the target from
the recent triangle breakout
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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