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Trading The Range

GOLD

Bullion traded either side of unchanged on Wednesday, with the broader USD and our weighted U.S. real yield monitor nudging lower on the day. Still, participants lacked any real conviction ahead of Friday's U.S. NFP print, even as the ADP employment reading markedly missed expectations (triggering the usual round of debate re: the short-term correlation between the ADP & NFP readings). That means spot is virtually where it was 24 hours ago, last dealing just shy of $1,815/oz, with the technical overlay 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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