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Gold outlook still positive despite slow start
Gold fell out of favour after staging a modest bounce post NFP on Friday. This morning, it briefly fell below $2020 to reach its lowest level since December 18. The precious metal therefore remains contained within its prior ranges, unable to find much love due to the recent recovery of the dollar. However, with the lack of any major US data until Thursday’s release of US CPI, there is a possibility we could see the dollar come under pressure again given that it has reached key resistance levels against a number of major currency pairs. The US 10-year bond yield had also reached key resistance area, which may mean ... (full story)