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Gold has moved higher in Asia-Pac trade on.....>

GOLD
GOLD: Gold has moved higher in Asia-Pac trade on Wednesday, the yellow metal
last at $1,313.06 up $3.83. Gold opened at session lows after dropping sharply
on Tuesday as North Korean based geopolitical fears receded. Gold dropped around
$20/oz from highs to hit session lows of $1,305 just ahead of the close
yesterday.
- Gold is still just off highs for the year and is likely to remain supported as
North Korea seems intent on conducting more missile tests.
- MNI technical analysis sees support at $1303.5 - Hourly support Aug 28,
resistance is seen at $1326.1 - 2017 high Aug 29. The lack of follow through on
fresh 2017 and 10mth highs is a concern for bulls with the Bollinger top
($1313.80) remaining an issue. The $1295.5 support is key today with bears
needing a close below to shift focus back to $1275.3-1282.9 where the 21-DMA is
situated. While $1295.5 supports bulls remain focused on $1337.4-1352.6 where
Sept highs are noted. O/B daily studies are now a concern for bulls.

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