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FxWirePro: Gold Daily Outlook

Gold has once declined after hitting a fresh 6-year high of $1452 as the chance of 50bpbs rate cut in Jul has diminished. According to the CME Fed watch tool, the probability of the 50bpbs rate cut has declined to 22.5% from 24% on Friday. US 10 year yield is trading steady and jumped more than 2% in the past two trading days.

 

On the flip side, near term support is around $1430 and any break below will drag the yellow metal to the next level till $1420/$1412/$1400. Major weakness only below $1380.

 

The near term minor resistance is around $1450 and any break above will take the yellow metal to the next level till $1465/$1500.

 

It is good to buy on dips around $1425-28 with SL around $1412 for the TP of $1465.

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

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50 %

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48.6 %

January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 830157830157m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 830157830157m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 818337818337m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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