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Gold is higher in Asia-Pac trade, last up......>

GOLD
GOLD: Gold is higher in Asia-Pac trade, last up $3.14 at $1,294.34. Gold
whipsawed on Friday ahead of comments from policy makers at Jackson Hole with
sources noting massive jumps in volume, but finished the day with around $5/oz
of gains after markets saw few monetary policy clues in policy maker comments.
- Uncertainty is high around the debt ceiling with little in the way of
substantive progress made over the past few days. This put the USD on the back
foot, DXY holding near lows from Friday after dropping on Friday to 93.40 to
92.50.
- North Korea launched more missiles over the weekend in response to the
US/South Korea joint military exercises. US officials said that the launches
posed no threat to the US or its territories but it brings to the fore concerns
over a situation that had been put on the back burner over the past few weeks.
- MNI technical analysis sees support at $1287.9 - Hourly support Aug 25,
resistance is seen at $1300.8 - 2017 High Aug 18.
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