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Insights

Gold recovers as G7 puts ban on gold exports

Daily Report

Reading Time: 2 minutes Gold was 2nd largest export for Russia, 90% of its output went to G7 countries and Russia accounted for about 5% of all world gold exports. A ban on gold exports from Russia will squeeze the supply of gold in the global market.

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Risk-off impulse, sliding US bond yields, modest USD

Daily Report

Reading Time: 2 minutes Geopolitical uncertainty and elevated worries of policy mistakes are likely to continue to be supportive, and any escalation on either worry could see gold breaking above the $1,875-$1,895 resistance, with a target near $1,960, especially if USD strength starts to slow.

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