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The yellow metal operated in a tight rate,.....>

GOLD
GOLD: The yellow metal operated in a tight rate, allowing it to consolidate
Tuesday's losses, last trading at $1,318/oz in spot dealing.
- The lack of follow through above the 21-DMA ($1333.8) and rejection ahead of
the $1344.7-1351.3 region has taken its toll with a sell-off and dip below the
55-DMA ($1317.7) that shifts focus to the 100-DMA. Bears need a close below the
100-DMA to hint at a move back to Dec lows ($1235.9) with below the 200-DMA
($1286.9) to confirm. Layers of resistance are building with bulls need a close
above $1330.0 to gain breathing room.
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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