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

GOLD: Gold is higher in Asia-Pac trade, the yellow metal last up $2.40 at

$1,336.27 after taking a leg higher following newswire headlines that North

Korea were moving ICBM for a possible test before Saturday. This headline saw a

flight to safety and pushed gold to session highs of $1,338.89. At these levels

gold is hovering around the highest levels since late September 2016, supported

by ongoing tensions with North Korea. The UN met on Monday and US ambassador

Haley said that North Korea were begging for war and requested the strongest

sanctions possible.

- MNI technical analysis sees support at $1328.8 - High Sept 4, resistance is

seen at $1339.8 - 2017 High Sept 4. A gapping move higher to start the new week

has resulted in fresh 2017 and 12mth highs with immediate bullish focus now on

$1343.6-1375.2 where 2016 highs are located. The Bollinger top ($1335.4) is the

key concern for bulls. Bears need a close below $1328.8 to gain breathing room

and below $1313.7 to shift initial focus back to $1294.6-1295.5 where the 21-DMA

is noted.