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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 $3.49 at
$1,351.77. Gold is on track for another weekly gain, last up 1.53% on a 5 day
basis, denoting the 6th weekly gain in the past 7 weeks. Gold dipped on Thursday
as the dollar strengthened. The rise in the greenback came after Trump said that
comments from US Tsy Sec Mnuchin yesterday were misinterpreted and that he
favoured a stronger dollar.
- MNI technical analysis sees support at $1342.7 - Low Jan 25, resistance is
seen at $1359.7 - Monthly High Aug 2 2016. The recovery from the mid Jan
correction has resulted in fresh 2018 & 18mth highs with immediate bullish focus
currently on 2016 highs and a close above then targeting $1391.8-1433.3. The
lack of topside follow through is a concern when combined with modestly O/B
studies. Bears now look for a close below $1339.2 to add weight to the case for
a correction back to the 21-DMA.

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