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Gold is lower in Asia, the yellow metal last...>

GOLD
GOLD: Gold is lower in Asia, the yellow metal last down $2.82 at $1,288.14. Gold
rose sharply on Wednesday, rising over $7.50 during the session after comments
from Trump at a rally in Arizona that he would shut down the government in order
to build the border wall. The drop in gold comes the US dollar regains some of
it's strength in Asia following a broad selloff yesterday. DXY has risen from
lows of 93.128 to last trade at 93.30 during Asia today.
- Gold is seeing added selling pressure after Typhoon Hato caused less damage
than expected in Hong Kong yesterday, the Hong Kong markets have reopened again
today and are up around 150 points.
- Gold is seeing slightly cautious trade ahead of the Jackson Hole Economic
Symposium which starts today, markets are expecting comments from Fed's Yellen
and ECB's Draghi amongst others, while comments from Fed's Kaplan yesterday
reiterated his wait and see stance, but noted strong labour market could warrant
some accommodation removal.
- MNI technical analysis sees support at $1286.6 - Hourly support Aug 23,
resistance is seen at $1293.9 - High Aug 21.

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