Gold aroused at first overnight on hazard avoidance in front of the Trump/Xi meeting, just to flop at the end of the day at the 200-day moving normal which sits at 1259 in Asia today.
GOLD
Gold's butterflies were presumably brought on by the FOMC minutes talking about the begin of the once-over of the Federal Reserve's accounting report this year. This ought to infer higher yields, and despite the fact that the security showcase hasn't responded (yet), both values and gold did, by tumbling from their highs.
1259 and the 1261.50 levels make up introductory resistance in gold today, with the 1240 level still the key support as gold exchanges at 1255 an ounce in early Asia. A break of the 1240 support would be of specific worry to gold bulls now given the various disappointments above.
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