Gold dropped again on the overnight as the.....>

GOLD: Gold dropped again on the overnight as the dollar remains strong ahead of

Wednesday's FOMC meeting, although shake-ups are not predicted a December rate

hike is still largely priced in. Pres. Trump is said to be planning to announce

the new Fed chair Thursday, we have the BOE's MPM on Thursday and then U.S.

Payrolls Friday, so all things to look for for movements in gold which was last

priced at $1269.78.

- MNI Technical analysis sees support at $1267.7 - Low Oct 31 and resistance at

$1280.9 - 21-DMA. Hesitation ahead of the 200-DMA was less than ideal for bears

who are focused on $1243.8-1260.6 where the 200-DMA and channel base are

situated. Bulls continue to look for a close above $1283.7 to confirm a break of

the 21-DMA, easing bearish pressure & initially correcting back to

$1291.1-1296.97 where the 55-DMA is found. Bears now look for a close below the

200-DMA to add weight to their case.