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Gold extends gains above technical resistance level

In the previous update, I noted how US yields were falling back and that was negatively impacting the dollar. Well, that negative impact has now seen the EUR/USD finally reclaim the 1.08 handle this morning. The GBP/USD has traded higher too and more immediately being potentially buoyed by comments from Andrew Bailey and his colleagues, speaking in front of the TSE. The other notable impact of all this has seen gold extend further upon an earlier move above its 21 day moving average (2,023.95). Gold has now risen above $2,026 as I write this update. The further drop back in the USD/JPY, to below 150.20 right now is further adding to the upside momentum in Gold 
 

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