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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 $2.19 at
$1,267.76. Gold rose as US stocks dipped after the House (again) voted to pass
the tax bill, sending the legislation to US President Trump to sign. MNI sources
note it looks like a case of buy the rumuor sell the fact, and that the tax
related optimism is now mostly priced into markets.
- The dollar index is flat in Asia, but is lower than opening levels on
Wednesday, and US yields are lower as safe assets retain a bid, both factors are
supporting bullion.
- The BoJ kept all policy unchanged, noting subdued inflation despite stronger
economic fundamentals.
- MNI technical analysis sees support at $1259.2 - Low Dec 19, resistance is
seen at $1269.9 - Low Nov 14 now resistance. Bulls need a close above $1269.9 to
add to confidence.

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