| Type | 52-week GTB |
| Maturity | Jun 5, 2026 |
| Amount | E500mln |
| Target | E500mln |
| Previous | E500mln |
| Avg yield | 1.84% |
| Previous | 2.15% |
| Bid-to-cover | 1.71x |
| Previous | 1.87x |
| Previous date | Mar 05, 2025 |
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(Chart source: MNI/Bloomberg).

A medium-term bearish trend in WTI futures remains intact and last week’s sell-off reinforces this theme. The move down signals the end of the correction between Apr 9 - 23. Gold is trading closer to its recent lows and a corrective cycle remains in play for now. The yellow metal has breached the 20-day EMA. A continuation lower would highlight a deeper retracement and open the 50-day EMA, at 3115.11.