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Gold rebounds after technical correction yesterday afternoon

Yesterday morning Quick News readers were alerted to the prospect that despite rising to above $2,265, Gold had left open a price gap on the daily charts to just below $2,232. Well, eventually that price gap was duly closed heading into what would have been the 4pm London fix, had the markets here been open. The low seen ahead of that was set at $2,228.61. So, once that gap was filled the rebound into the US close got underway and later the metal closed in the US at $2,251.44. That rebound came despite the USD/JPY rising along with US yields. That suggests that continued Central Bank buying is not looking at technicals and merely using any dips to load up on more stock. So this morning, even as those dynamics remain largely unchanged, Gold has just tested $2,260, as it lifts to session highs a moment ago, at $2,259.87. It is currently trading at $2,257.05

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