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

GOLD
GOLD: Gold is higher in Asia-Pac trade on Monday, the yellow metal last up $2.05
in a broadly risk off environment at $1,290.42.
- Gold is supported by a weaker USD, DXY has held declines made on Friday, last
near 2-month lows at 92.785.
- Markets focus on the upcoming Tax bill debate in the Senate, media reports
over the weekend noted that while Senate Republicans believe they have the votes
required, senior Republican lawmakers are still seeking to lock in the necessary
votes. The vote could take place on November 30 according to Republican leaders.
- There are several key events this week including a Congressional hearing for
Fed Chair nominee Jerome Powell and secondary print of Q3 GDP.
- MNI technical analysis sees support at $1285.8 - Low Nov 24, resistance is
seen at $1297.0 - Hourly Nov 17. Bulls took comfort in the bounce from $1274.9
returning pressure to $1297.0.Bulls continue to look for a close above $1297.0
to confirm traction above the 55-DMA ($1286.8) and focus on $1306.0-1320.0.

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