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Tight Range Despite Broader Risk-Off Flow

GOLD

Spot gold has stuck to a particularly narrow ~$5/oz range during Asia-Pac hours, last dealing little changed just shy of $1,780/oz. This is despite a distinct risk-off feel to the broader Asia-Pac session. The tumble seen in the early part of last week (which has largely been recouped) has widened the gap between the initial technical lines in the sand, with initial support now located at the Aug 9 low ($1,690.6/oz), while resistance is noted at the July 15 high/bull trigger ($1,834.1/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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