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Gold takes a slight hit as USD/JPY extends rebound
Gold came close to reaching a new all time high earlier today, but in the event it has shied away from doing that. The high seen earlier was set at $2,526.89 and hence just some $5 short of reaching a new record. Since, then the USD/JPY has extended its rebound and lifted t0 144.45. That move has helped to send gold lower this afternoon. The low set a short while ago was at $2,512.92, which is above the earlier Asian low (2,508.83) and so not at all conclusive at this stage. Once again the reader is reminded, that in the absence of any drastic fresh risk based news, gold continues to trade from what surrounds it, be that the USD/JPY or global stock markets. Gold is currently trading at $2,515.85
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