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Gold lifts from Asian lows
As reported here on Friday, Gold could not resist the negative correlations impacting it from the weaker Yen and higher US yields. So, eventually the metal fell back. The noted fall below the 50 day moving average (then at $2,670.75) did extend all the way to the US close. Gold fell to $2,646.14 and later closed for the week pretty much on the low of the day, at $2,648.23. That 50 day moving is in place at $2,670.50. Once again the 100 day moving average is still guarding the base and that is in place this morning, at exactly $2,600. The range seen so far today has been covered by $2,643.60 to $2,655.75. Gold is currently trading at $2,653.75
Market News
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