Gold nurses some of yesterday’s losses as it rebounds...

Gold nurses some of yesterday’s losses as it rebounds from support near the 1920.00 level but with upside limited in the aftermath of disappointing Consumer Confidence data and amid month-end factors at play with Citi suggesting FX hedge rebalancing flows point to a bias for net USD selling next Monday as this month’s relative outperformance of US equities has likely left foreign investors under-hedged.

Upside bias remains intact...

Long Gold...