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

GOLD
GOLD: Gold is slightly higher in Asia-Pac trade again, with investors seeking a
safe haven in the yellow metal post brash statements from President Trump
regarding the N. Korea crisis, as well as expectations that the FOMC will later
on today announce they will begin the process of balance sheet reduction. Levels
are currently up $1.34 at $1,312.50 after early on in the week seeing its lowest
levels on the month.
-Usually the pattern following strong statements from President Trump on the N.
Korea crisis is retaliation from Kim Jong-un, Trump claimed on Tuesday he would
destroy N. Korea should he need to, not surprisingly prompting a gold rush. We
predict gold will stay on the up ahead of the FOMC announcements and news from
N. Korea.
- MNI technical analysis sees support at $1304.6 - Low Sept 18 and resistance at
$1317.8 - 21-DMA with pressure on the 21-DMA took its toll Monday with closes
below seeing bears focused on $1294.4. Bears still need a close below this level
to confirm focus on 55 & 100-DMAs ($1266.9-1280.4).

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