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The yellow metal has stuck to a tight range....>

GOLD
GOLD: The yellow metal has stuck to a tight range in Asia-Pac hours and last
deals little changed around $1,494/oz.
- Wednesday's FOMC decision ultimately disappointed those of a more dovish
disposition, with little in the way of notable swings in the FOMC's
data-dependent tone projected alongside the 25bp cut to the Fed Funds target
range and 30bp cut to the IOER.
- Gold ultimately closed below uptrend support drawn from the May 30 low, and
bulls will look for a quick reclaim of broken support (seen at 1,498.2/oz
today). As long as this caps, bears will look to the Sep 10 low at $1,484.6/oz.
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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