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GOLD Supported by $1240

The offered tone ran out of steam at yesterday’s low of $1240 even Fed’s Williams expressed a possibility of rate hike in April/June. Moreover, hawkish comments from Fed officials did weigh over equity prices in Asia and thus helped safe haven metal gain ground.
The metal is likely to track movement in the USD index, which is now trading flat. Equity market sentiment too could have its say in determining price of the yellow metal.

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