Our Daily Reports are a natural by-product of our ‘round-the-clock knowledge of developments in the precious metals market.
During the European session gold was stuck below the 61.80% Fibonacci retracement at 1385 despite a small attempt to break it at the opening.
Pressure on gold did not end during the European session.
Once London session started, gold took out 1424 level which is the 38.2% Fib retracement of the April rally on a stronger greenback after some rather disappointing German and French figures.
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