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Gold is lower in Asia-Pac trade on Friday,.....>

GOLD
GOLD: Gold is lower in Asia-Pac trade on Friday, the yellow metal last down
$1.61 at $1,321.38. Despite the slight drop gold is holding near highs from
Thursday, the precious metal briefly hit $1,326.07 before some touted black box
profit taking above $1,325. Gold is currently up 1.43% on the week and on track
for its 4th straight weekly gain. 
- Gold rose yesterday as the USD weakened, DXY fell 0.4% yesterday to hit 3-week
lows but has bounced slightly in Asia trade, last at 91.853.
- Market now looks ahead to the NFP figure at 1330GMT after a strong beat in the
ADP survey yesterday.
- MNI technical analysis sees support at $1316.9 - Hourly resistance Jan 3 now
support, resistance is seen at $1334.8 - High Sept 13. Bulls take comfort in the
close above $1321.3 that reconfirms dominance and focus on $1357.5-1374.9 where
2016 & 2017 highs are situated. O/B daily studies remain the key concern for
bulls. In saying that, bears continue to look for a close below $1302.5 to ease
bullish pressure and below the 100-DMA to hint at a deeper sell-off with below
the 55-DMA ($1277.8) confirming.

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