In commodities, spot gold was closing near.....>

GOLD: In commodities, spot gold was closing near $1,268.70 per ounce, in the

middle of a 1,2662.66 to $1,274.16 range, with the earlier high the highest

since June 14 when gold peaked at $1,280.77.

- On June 6, the precious metal posted a high of $1,296.15, but then stalled,

creating a double-top with the $1,295.56 high seen April 17.

- Subsequently, gold moved lower as U.S. Treasury yields and the dollar

recovered, bottoming July 10 near $1,204.90.

- With the dollar on the defensive in recent sessions, gold has made slow

progress higher. A break above the June 14 highs will target the early June

peaks.

- OUTLOOK: O/B daily studies and the Bollinger top remain key concerns for bulls

who are initially focused on $1280.8 with overall focus on tests of 2017 highs.

The $1252.7-1262.2 support region remains key. Bears look for a close below

$1262.2 to gain breathing room and below $1252.7 to shift focus to the $1242.4

support. Bulls now need a close above $1280.8 to add support to their case for a

test of 2017 highs.