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Market Impact: 0.3
Gold bulls still in control as market holds well above key support
Source: kitco.com
Sovereign Debt & RatingsCurrency & FXCommodities & Raw MaterialsMarket Technicals & FlowsInflation
Concerns about the size of U.S. government debt have sparked a “dollar debasement” trade that pushed gold back above key resistance levels. Gold has rallied about 15% through August, but analysts warn it may be slightly overbought. Net: the theme is supportive for gold near-term, but momentum risk is rising.
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