Gold is up $1.64 at $1331.38 after rising to...>

GOLD: Gold is up $1.64 at $1331.38 after rising to $1337.26 after a dip just

after strong jobless rates and CPI data was released in the U.S., increasing

confidence ahead of the FOMC meeting next week. The meeting has a press

conference attached which is typically when the bank take action, though the

median expectation is still no change for this meeting but B/S reinvestment will

be in focus. Since session lows post data we have seen around a $16 rise, safe

assets were bid following the launch of a missile towards Japan by N. Korea,

landing in the sea. The reaction was limited compared to previous launches, this

is the second time in two months North Korea have launched missiles over Japan.

- Gold was at around $1319 at this time in the session yesterday, however the

yellow metal is still on track for a weekly decline, currently down around 1.17%

on the week. This is the second say of consistent gains for gold and this

session's peak is the highest its price has been since Wednesday.

- MNI technical analysis sees support at $1315.5 - Hourly support Sept 14,

resistance is seen at $1334.8 - High Sept 13.