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Gold holding steady gains so far today

Gold has risen so far today, from an earlier session low at 1,956.52 after posting a US close at 1,959.85. The high seen so far has been set at 1,968.62. The rising support lower down from the 200 day moving average is still defining the overall trend, despite being tested a couple of time over the past few sessions. The push higher from that level, now at 1,936.55 is suggesting there is more upside in the tank, but that will require the USD/JPY and US treasury yields to support the move, in the absence still of any significant risk deterioration dynamic. We should not forget that it was Middle East tensions that really underpinned the recent rebound above 2k. Gold is just now trading at 1,967.15
 

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