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

GOLD: Gold is lower in Asia-Pac trade, the yellow metal last down $2.82 at
$1,330.57. The drop in the session today pales in comparison to the decline on
Friday after the strong US NFP print, the decline from around $1,350 was the
biggest one day decline in 2 months.
- Data on Friday showed that long positions in gold rose to their highest levels
since September in the latest week.
- MNI technical analysis sees support at $1327.1 - Low Feb 2, resistance is seen
at $1336.9 - Hourly resistance Feb 2. The failure to break back above $1352.3
last week left gold looking heavy and resulted in a marginal close below the
21-DMA ($1335.2) Friday adding weight to the case for a test of $1302.5-1305.6.
Layers of resistance are accumulating and weighing with bulls needing a close
above $1252.3 to regain the upper hand and above $1374.9 to confirm focus on

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