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Gold takes it on the chin as US yields lift after PMI data

Well, folks lots of reactions across the markets right now to the higher than forecast US PMI readings. The US stock markets are lower on balance and the dollar has gained. Gold took a hit on the news, but it was already falling back leading into this data. Earlier today Gold has topped out at $2,368.75. It was drifting back towards $2,355 when this news broke. The reaction to that saw it fall to a session low at $2,336.05 It is trying to rebound a little, but much will depend on how those US and yields really react to the data. They are a a little higher, but in truth not by that much at this stage. Gold is currently trading at $2,337.60 

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