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WELL SUPPORTED

GOLD

Gold remains well supported on the back of lingering economic uncertainty and the prospect of further monetary easing in the G10.

  • Spot gold trades at 1950.40 in the middle of the day's range (L: 1946.65 / H: 1955.69)
  • Total known ETF holdings of gold stand at 109.81m tr oz, marginally below the record high of 109.82m tr oz seen on September 17.
  • Although the major central bank meetings for September are now in the rear view mirror, there are a slate of policy speakers this week (ECB's Lagarde, Holzmann, Villeroy, Panetta, Lane and Hernandez, as well as the BoE's Bailey) that provide potential catalyses for price action in gold.

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