Gold is broadly flat in Asia-Pac trade on......>

GOLD: Gold is broadly flat in Asia-Pac trade on Wednesday, the yellow metal is

last up $0.10 at $1,341.31. Gold is holding gains made during the US session,

supported by a weaker US dollar. During the Asia session the dollar index

briefly dipped below 90, touching 89.974, a fresh 3-Year low. 

- Concerns over the trade situation are weighing on the dollar and supporting

gold, the US yesterday imposed sanctions on solar and washing machine imports.

The announcement was met with disapproval from China and South Korea who both

said they would protect their own interests. US President Trump will speak at

the Davos economic forum tomorrow, his comments will be watched for indications

of any future actions on trade policy.

- MNI technical analysis sees support at $1331.2 - Low Jan 23, resistance is

seen at $1344.5 - 2018 High Jan 15. Gold was rejected ahead of recent 2018 highs

last Wed with the sell-off so far lacking follow through and bulls taking

comfort in recovering lost ground. Bulls still need a close above $1344.5 to

reconfirm focus on 2017 and then 2016 highs.