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Gold edges back from best levels seen yesterday
Yesterday the move above $2,400 in Gold was extended to a high at $2,424.58. That move was driven by the slide in the USD/JPY and US yields. Gold later closed in the US at $2,415.48 and the heavy falls in US tech stocks helped to ensure that close was well above $2,400. The metal has been edging back so far today though, but so far it has not fallen back underneath that 2,400 handle. The range seen thus far has been covered by 2,405.53 to 2,416.34. The reader is reminded of the current all time and 2024 high set on May 20, at $2,450.07. Gold is currently trading at $2,407.15
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