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Gold is slightly higher in Asia-Pac trade,.....>

GOLD
GOLD: Gold is slightly higher in Asia-Pac trade, the yellow metal last up $0.50
at $1,269.95. Gold is supported by a weaker US dollar, the dollar index (DXY)
fell yesterday to 92.80 and last trades at 92.888, just off the weakest levels
since May 2016.
- The revolving door policy of the White House is casting fresh concerns over
the stability of the Trump administration with Anthony Scaramucci the latest
casualty, his employment ended after just 10 days.
- MNI technical analysis sees support at $1265.7 low July 31, resistance is seen
at $1277.5 bollinger band top. Bears failed to capitalise on the dip Wednesday
with gold finding support ahead of $1242.4, resulting in a close above the
$1258.8 resistance that shifted initial focus to $1280.8 and overall focus to
tests of 2017 highs. The Bollinger top & O/B studies remain key concerns. Bears
now look for a close below $1262.2 to gain breathing room and below $1252.7 to
shift focus to the $1242.4 support.

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