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Gold edges past 100 day moving average as dollar and yields slip
Further to the previous update, in part noting that Gold had risen to a new high on the week, here is some more detail on that move. Gold has done something that it could not do yesterday and lifted to test and actually just surpass its 100 day moving average. That is in place today at 1,944.70. Gold has traded to as high as 1,945.86 just a short while ago. The move higher in the metal comes as the USD/JPY continues to drift lower along with US yields. This is also the highest level for gold since September 4. It is just now trading at 1,945.55
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