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

GOLD: Gold is higher in Asia-Pac trade on Tuesday, but is still some $15/oz

lower than highs on Monday as the yellow metal dropped the most since late

September as jitters remain around the US tax bill. Gold last trades up $3.12 at

$1,280.03. Gold fell at the start of the US session as equities strengthened,

yields rose and the USD recovered. DXY has dipped slightly in Asia but at 94.020

is still higher than lows of around 93.60 seen on Monday.

- Gold shrugged off comments from Yellen that she would step down from the Fed

board when Powell takes over. Gold is supported in Asia by US President Trump's

decision to put North Korea back on the list of state sponsored terrorism.

- MNI technical analysis sees support at $1274.9 - Low Nov 20, resistance is

seen at $1281.1 - Alternating hourly support/resistance. Bulls failed to

capitalise on Friday's close above the 55-DMA with Friday's gains erased, gold

looking heavy once more and focus back on the daily bull channel base and

200-DMA. Bulls now look for a close above $1297.0 to confirm a break of the

55-DMA ($1290.4) and confirm focus on $1306.0-1320.0. Bears look for a close

below the channel base to hint at a move back to July lows ($1204.6).