With gold testing yesterday's low in the early going despite a weak track in the dollar, the path of least resistance remains down.
However, the trade is likely to mark time on the charts until the release of US CPI, with inflation capable of sparking a chain reaction of movement in treasury yields, the dollar, and eventually precious metal and commodity prices.
Not surprisingly, investors remain cool toward gold ETF holdings which were reduced for the 13th straight session yesterday...[MORE]
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