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Gold sets a positive monthly close

Gold managed to hold recent gains pretty well into the month end, given the rebound in the dollar and push higher in US yields yesterday. Gold did not fall much below $2,035 whilst all that was unfolding and later closed the month in the US at $2,036.41. In terms of the monthly close that was of course positive. Granted, it was a lower close on the day, but given the immediate circumstances and potential for month end profit-taking, there was little evidence of that and overall it was pretty solid. The  metal has not made much progress so far today though and once again the 2,050 handle remains elusive, like it did yesterday. The range seen so far today has been covered by 2,036.41 to 2,043.48. It will be keeping a close eye on those US yields and USD/JPY price action again today though. Gold is currently trading at $2,040.30

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