Gold has inched higher in the Asia-Pac ahead...>

GOLD: Gold has inched higher in the Asia-Pac ahead of Thursday's Diwali festival

after hitting a one week low on the overnight and opening the Asia session

lower. The yellow metal was last up $2.65 at $1.287.76.

- Gold hurt on the overnight as we heard John Taylor, an economist at Stanford

could be a contender for Fed chair after impressing Pres. Trump, Taylor is said

to be considered hawkish, so having him in the chair could more likely mean a

rate hike come December, the U.S dollar spot climbed to week highs after the

news and gold declined.

- MNI Technical analysis sees support at $1281.2 - Low Oct 17 and resistance at

$1290.8 - Hourly resistance Oct 17. Bulls have so far failed to gain traction

above 21 & 55 ($1287.0 & 1296.3) DMAs with Tuesday's sell-off continuing to work

through support layers. The $1277.6 support remains key with a close below

needed to shift focus back to $1244.8-1260.5 where the 200-DMA ($1257.1) and

bull channel base are situated.