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Gold dealing near fresh 2-month highs

FXstreet.com (Barcelona) - Gold has opened the week in the Asia-Pacific well bid above the $1375 level printing fresh 2-month highs at $1382, marginally above previous Friday's highs.

Silver is also holding into strength above the $23 mark following last week's massive wins above +10%, already into overbought territory in dailies, with RSI 14 above the 80 level.

Oil stays well bid as well shy of the $108 mark around 15-month highs just below the $109 handle, following growing tensions in the middle east, including Egypt, that holds the passage of the Suez canal. Brent oil is printing fresh 17-month highs, with brent:wtic spread closing Friday in NY up +0.41% at 1.027.

What’s the message behind the DXY / Treasury divergence?

Last Thursday, the US Dollar plummeted surprisingly even as Treasury Yields blasted through resistance to make new highs. Analysts are rushing to put forth reasons for the divergent action.
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Japan July Merchandise Trade Balance Total decreases to ¥-1024B vs ¥-180.8B

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