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

GOLD: Gold is lower in Asia-Pac trade, the yellow metal last down $1.40 at

$1,319.00. After rising in the first few trading sessions of the year gold has

been in a narrow range so far this week. While gold has held most of its gains

the risk on sentiment in Asia has exerted some downside pressure. US stocks have

hit consecutive record highs and Asia-Pac stocks as well as US equity futures

are higher in the session on Tuesday. 

- The gold Relative Strength Index (RSI) touched 74 last week before gold prices

dropped back to around $1,305. The RSI currently hovers just below the

overbought threshold of 70, last at 69.5095.

- US yields are slightly higher on Tuesday after finishing Monday broadly flat.

There were comments from several FOMC speakers yesterday, Atlanta Fed Pres.

Bostic (voter) said that he supported gradual hikes, though San Francisco

President Williams (non voter) said lower for longer could be needed.

- MNI technical analysis sees support at $1314.4 - Low Dec 5, resistance is seen

at $1325.9 - 2018 High Jan 4.