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Gold rebound so far defies USD/JPY rise

Yesterday the noted fall to just below $2,015 in Gold did see it extend a little lower, as was envisaged here in an update noting that fall. Gold slipped to just below $2,012. However, it did not stay down there for very long and buyers did return to pick this one up off the lows. So, gold bounced back above $2,020 and later closed just above that level, at $2,020.05. Today it has lifted from an earlier low at $2,016.96. The high seen so far has been set at $2,024.64 and it is not far off this highs as I write this update. The rebound comes even as the USD/JPY seems to hold above 149.50 just now too. Of course Gold will react to the US CPI data later today and it remains to be seen how that data will impact the price, especially if it is well outside of expectations. Gold is currently trading at $2,024.35

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