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Gold prices in sights of 1600 barrier

The price of gold has shot up during the afternoon of European trading Tuesday. Having been stuck in a tight consolidation to start the week in the 1580 region, the yellow metal has now settled at USD $1596.77 per oz. in these moments.

According to the ICN.com analyst team, gold prices expect to target a move to towards resistances at 1602.00 and 1618.00 levels.

Forex Flash: Gasoline prices edge higher in US on winter freeze – Deutsche Bank

The US winter, which was the 20th warmest on record (according to National Oceanic and Atmospheric Administration), is now expected to grow colder later this month – which lifted natural gas prices for the third consecutive day yesterday to a 3-month high. The national average regular unleaded price is around $3.70/gallon at the moment, off the recent highs of $3.79/gallon but still materially higher versus the lows of $3.22/gallon seen halfway through December of last year.
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Forex: AUD/USD at highs above 1.0300

The AUD/USD is having upside pressure as, according to TD Securities analysts, “bond yields from the June-2016 maturity onwards closed above the 3% cash rate prompting the “conclusion” that the RBA easing cycle is over”. The current rally of Gold (+1.11%) to just below $1600 may also be having an effect on the cross. The AUD/USD is again at its early highs, 1.0313, after bouncing from 1.0268 low throughout the European morning.
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