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U.S. PCE Eyed

GOLD

Gold trades little changed on the day, just above $1,805/oz, after reclaiming the $1,800/oz level on Wednesday. To recap, Wednesday saw the metal draw support from a downtick in both the broader DXY & U.S. real yields. The immediate technical parameters are well defined and remain untouched. Initial resistance comes in at the Nov 26 high/near-term bull trigger ($1,815.6/oz), while support is seen at the bull channel base drawn off the Aug 9 low. U.S. PCE data provides Thursday’s major macro release.

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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