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Gold is higher in Asia-Pac trade, the yellow...>

GOLD
GOLD: Gold is higher in Asia-Pac trade, the yellow metal last up $4.15 at
$1,287.35. The rise denotes the the second day of gains in gold as Asia-Pac
traders jumped on the post-FOMC minutes increase with several policy makers
highlighting low inflation as a concern, despite pledges to continue with plans
for a balance sheet reduction. The news that Trump has disbanded the economic
council also supported the risk off mood. The move further casts doubt on
Trump's ability to undertake his agenda, especially after his administration was
condemned by prominent business people who were on the council, an area was
Trump was previously seen to have strong support.
- The US dollar weakened on the FOMC and Trump even as US/North Korea tensions
recede, DXY dropped from highs of around 94.10 yesterday to last trade at
93.406. Yields have continued their decline in Asia with the US 10-Year yield
last down 1.2bp at 2.234% and Australian 10-Year yield down 2.5bp at 2.638%.
- MNI technical analysis sees support at $1285.7 hourly resistance Aug 14 now
support, resistance is seen at $1292.5 bollinger band top.

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