Gold is suffering in Asia as the markets are...>

GOLD: Gold is suffering in Asia as the markets are very much risk on and

investors are moving away from their usual safe haven. There has been added

selling pressure as Irma has been better behaved than expected and N. Korea did

not fire any nuclear missiles on Founding Day. 

- Gold closed last week at $1346.35 and opened in Asia at around $1340, now down

further at $1337.5, $9.22 on the day. This follows movements of Hurricane Irma

that is still tearing through the U.S. but at a lower category 2 classification

as opposed to a category 5 predicted on Friday. 

-MNI technical analysis sees support at $1331.4 - Low Sept 6, resistance is seen

t $1342.1 - Low Sept 7 now resistance. Fresh 2017 and 12mth highs lacked follow

through Friday with bears taking comfort in the gapping move lower today that

eases immediate bullish pressure and hints at a correction back to

$1294.6-1313.7 where the 21-DMA is located.