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An update here yesterday on Gold noted how the metal had seemingly attracted a buyer from the blind side and that was later confirmed in a further update, endorsing the observations made earlier in the day. Well Gold later posted a record US close last night, at $2,842.71. The price action so far today has seen it feed positively from further Yen strength. That has allowed gold to set yet more records today. The metal has lifted above $2,850 and then above $2,860. The high seen earlier this morning was set at $2,861.93 The earlier session low prior to that new record was set at $2,839.76. Technically the metal is not yet critically overbought yet either. The 14 day RSI (Relative Strength Index) is right now around 75. Gold is currently trading at $2,860.50
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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