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The twists and turns of the Yen/Gold dynamic
Yesterday gold rose with the USD/JPY, as covered here at the time, but as also noted later, it ran into a hefty seller later in the session. That forced gold back down to a low around 2,381.80, once again that extreme was right on the 4pm London FX fix. You have been warned about Gold price extremes on any session at around this time for ever and a day here and yesterday was clearly no exception. Gold later closed in the US at $2,391.94. It has risen a bit more today, but given the gains in the USD/JPY, it has been stalled ahead of $2,400 and the means the shift we saw in the Yen/Gold dynamic yesterday has seemingly reverted to trend so far today, as the metal struggles somewhat to make progress. The range today is covered by 2,379.09 to 2,396.19. It is currently trading at $2,391.40
Market News
All News-
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