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The yellow metal's impressive rally has........>

GOLD
GOLD: The yellow metal's impressive rally has stalled in Asia-Pac hours, last
dealing virtually unchanged at $1,511/oz, holding to a sub-$4/oz range.
- Spot last sits ~$32/oz higher on the week, after breaks of downtrend
resistance, as well as the November 5 high. Some have attributed the rally to
the worry re: a potential North Korean missile launch, while others have pointed
to lower liquidity exacerbating the technical move. Truth be told, it is hard to
say, the former should have been at least partially "in the price," while the
move feels a little stretched if the latter is the driving factor.
- Nonetheless, we are where we are, and that leaves bulls targeting the Oct 25
high at $1,518/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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