Gold - physical interest emerging below $1,360.

Precious metals were dealt a blow as safe-haven demand fell away on the news that Egypt’s president, Hosni Mubarak, has stepped down. With equities and equity futures on the up, it seems as if risk appetite is firmly entrenched, leaving little potential for gains in precious metals today. Nevertheless, physical buying should provide support levels. For gold, we find physical
interest emerging below $1,360.

Gold support is at $1,352 and $1,346. Resistance is at $1,367 and $1,375.

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