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

GOLD: Gold is slightly lower in Asia-Pac trade, last off $1.16 at $1,268.48. The

yellow metal has seen a downward trend this session, just dipping off highs hit

on Friday after jumping around $10/oz after new of the latest North Korean ICM

test and weaker US GDP data on Friday.

- The North Korea situation will likely support gold going forward, over the

weekend the US flew two supersonic bombers over South Korea in a show of force

and China has urged North Korea to cease actions that could escalate tensions

further.

- Sources note month-end flows could dictate the price of gold today, gold is

currently up 2.17% so far this month. 

- MNI technical analysis sees support at $1262.2 hourly support July 28,

resistance is seen at $1273.5 bollinger band top. Bears failed to capitalise on

the dip Wednesday with gold finding support ahead of $1242.4 and 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.