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Tight After Yesterday's Dip

GOLD

A lack of fiscal movement in DC and Brexit worry has provided light support for the U.S. Tsy space during Asia-Pac hours, applying modest pressure to real yields in the process, with the latter metrics now unwinding the entirety of the gains that were lodged in early NY trade on Wednesday. Spot bullion has held to a tight range after yesterday's weakness, last dealing little changed around the $1,840/oz mark. Yesterday's weakness in the yellow metal was likely linked to an uptick in the broader DXY, although that index remains within touching distance of the recent cycle lows. The technical backdrop remains unchanged.

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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