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Gold is higher in Asia-Pac trade on Friday,....>

GOLD
GOLD: Gold is higher in Asia-Pac trade on Friday, last up $1.78 at $1,249.00 but
down 2.47% on the week - this would denote the biggest weekly decline since May.
The slight increase brings gold off lows hit late in the session on Thursday
after some $20/oz worth of declines during the session to hit the lowest levels
since July. Gold fell as the USD rose on Thursday on US political optimism; US
President Trump announced plans for an infrastructure plan in January and the
Senate passed a temporary spending bill to fund the government to Dec 22.
- Data from Asia has been largely ignored ahead of the key US NFP report at
1330GMT today. In Japan GDP soared above initial estimates at 2.5%, while in
China Trade Balance figures were strong with both imports and exports rising.
- MNI technical analysis sees support at $1243.4 - Low July 26, resistance is
seen at $1251.0 - Low Aug 8 now resistance. Having remained capped ahead of
$1269.9 Wednesday the sharp sell-off sees immediate pressure on $1243.4. Bears
need a close below this level to confirm focus on tests of 2017 lows. Modestly
O/S daily studies are now a concern for bears.
Energy BulletsCommodities
Energy BulletsCommodities

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