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Gold lifts above $2,660 as dollar slides
Following on from the previous update, you can clearly see how the impact of the weaker dollar this morning has helped gold to rise. The slide in the USD/JPY this morning is very much front and centre in that correlated move. Gold has risen to as high as $2,666.36. There was no official US close last night, but had there been one it would have been at $2,637.92. So, the metal has jumped almost $30 from that level so far today. The high seen on Monday was set at $2,721.41, so as you can see, it still has some way to go before it might test that level again. Ahead of that resides potential resistance from the 50 day moving average. That is in place right now at $2,669.54, The low seen earlier today was set at $2,634.18. Gold is currently trading at $2,662.90
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