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

GOLD
GOLD: Gold is slightly higher in Asia-Pac trade on Friday, the yellow metal last
up $0.19 at $1,291.67 and holding the gains made post FOMC minutes on Wednesday.
Gold is marginally on the week, last down -0.08%, if the yellow metal ends this
week negative it will be its third consecutive weekly decline.
- A weaker DXY is helping to support gold, the index last down 0.058 at 93.162
after falling from around 98.40 on Wednesday. Gold is also supported by the
declines in stocks in Asia, in China stocks are lower after a sharp decline on
Thursday, blamed on tightening liquidity after government restrictions were
imposed on online lenders.
- MNI technical analysis sees support at $1286.6 - Hourly support Nov 22,
resistance is seen at $1297.0 - Hourly Nov 17. Bulls took comfort in the bounce
from $1274.9 returning pressure to $1297.0. Bulls continue to look for a close
above $1297.0 to confirm a break of the 55-DMA ($1287.6) and confirm focus on
$1306.0-1320.0. Bears need a close below $1286.6 to ease pressure on $1297.0 and
below $1274.9 to shift pressure back to $1259.8-1265.7 where the bull channel
base and 200-DMA are noted.

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