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Aug 12 - 04:55 AM
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Gold's Continuing Rise Heightens Risk Of A USD Drop
By Jeremy Boulton — Aug 12 - 03:08 AM
• Gold up to $4434/oz on Aug 11
• Gold has broken and closed above daily Ichimoku cloud
• Chance of a bullish close above 100-DMA at $4387/oz
• The influential 200-DMA is $4498/oz
• Gold rises have tended to precede USD drops
• Traders heavily long USD ahead of US CPI report
•
Gold
(Jeremy Boulton is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters