(Typo corrected)

• Gold modestly firmer as $4200 is tested, but still largely confined to recent range

• Latest lift aided by Trump's statement that the US will not strike Iran before Midterms

• Trendline resistance caps for now, which underscores the view that risks still lean lower

• Further hurdles sit at $4260 (100-day MA) and $4310 (55-day MA)

• Technically, a close above the 55-day MA would negate the current bearish setup

• Though, unless the USD and UST yields sustain a pullback, gold rebounds should remain limited
gold tech

Justin McQueen is a Reuters market analyst. (The views expressed are his own) ((Email: ))