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GOLD Eyes hourly 200-MA…

GOLD prices trimmed gains are now eyeing the hourly 200-MA located at USD 1201.40. The safe haven demand for the metal dropped after the European stocks strengthened. Euro Stoxx 50 index currently trades almost 1% higher.
The prices could continue to track movement in the European stocks ahead of the Fed minutes release. The inverse correlation between gold and treasury yields could strengthen as well ahead of the Fed minutes.

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