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

GOLD: Gold is lower in Asia-Pac trade, the yellow metal last down $3.66 at

$1,288.22. Gold rose on Monday helped by continued US dollar weakness with DXY

dropping 0.63% during the session to hit 93.00. This pushed gold to its highest

level since June 6, touching $1,293.85. The move higher was supported as markets

were reminded of the US/North Korea political tensions with the US and South

Korea holding military drills and as US military commanders issued a warning to

North Korea in a South Korean press conference.

- The decline in Asia has come amid a mild USD rebound, DXY last at 93.202 after

US President Trump laid out a steady plan with regard to Afghanistan.

- Markets will now look ahead to the Jackson Hole press conference with speeches

from Fed's Yellen and ECB's Draghi scheduled, rumours are already swirling as to

what the content of the speeches could be after a WSJ article that said Draghi

could talk QE exit.

- MNI technical analysis sees support at $1280.6 - Hourly support Aug 21,

resistance is seen at $1293.9 - High Aug 21.