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Gold is lower in Asia-Pac trade to start the...>

GOLD
GOLD: Gold is lower in Asia-Pac trade to start the week, the yellow metal last
down $6.04 at $1,274.58. Gold plunged on the open after the US Senate passed
their version of the tax bill, the passage saw a broad USD bid and a sell off in
gold - DXY last up 0.233 at 93.118.
- Markets are also watching developments in the investigation into links between
the Trump campaign and Russia, especially after Trump made a series of tweets
over the weekend that related to the probe.
- MNI technical analysis sees support at $1269.9 - Low Nov 14, resistance is
seen at $1277.9 - Hourly resistance Dec 1. Pressure returning to the
$1260.2-1269.9 region where the 200-DMA bull channel base off Dec 20 2916 lows
and Bollinger base are situated has so far failed to produce a break lower.
Bears still need a close below $1243.4 to confirm focus on retests of 2017 lows.
Daily studies are well placed for a fresh leg lower. Bulls now need a close
above $1289.3 to ease bearish pressure.

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