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Gold falls back towards $2,600 again
Earlier today Gold was making some modest progress. The metal lifted towards $2,625. However, over the past hour as US yields rise, Gold has fallen back to set a session low a short while ago at $2,607.04. The earlier session high was set at $2,624.36. As noted in the previous update, the move lower has been facilitated by a rise in US treasury yields and the rise back above 149 in the USD/JPY. The low seen yesterday in gold was set at $2,604.87 (as noted here earlier today). If the metal falls below that price point from here on today, then it could easily test to see what buying interest there remains at the $2,600 handle. Gold is currently trading at $2,609.65
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