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Gold is up slightly in Asia, but has yet to....>

GOLD
GOLD: Gold is up slightly in Asia, but has yet to make a dent in the losses made
so far this week as safe haven assets continue to decline as geopolitical
tensions calm. The yellow metal last trades up $1.54 at $1,273.16 after dropping
from around $1,282 yesterday.
- Gold has fallen $17/oz so far this week, retracing sharp jumps made last week
as the US/North Korea brinkmanship threatened to boil over. The rise in the US
dollar has impacted gold, DXY up 0.777 so far this week at $93.834.
- MNI technical analysis sees support at $1267.5 low Aug 15, while resistance is
seen at $1277.7 hourly support Aug 10 now resistance. Gold is looking a little
heavy as support layers give way with bearish focus now on layers of support
$1253.9-1265.5 where 21, 55 & 100-DMAs and the bull channel base ($1265.5) are
located. The $1277.7 resistance is now key with bulls needing a close above to
gain breathing room. A close above 2017 highs remains needed to reconfirm a
bullish bias and target $1337.4 Nov monthly highs.

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