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

GOLD: In commodities, spot gold was closing near $1,263.40 per ounce, after

trading in a $1,255.87 to $1,260.00 range, The August 1 high of $1,274.16 was

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.

- A break above the June 14 highs will target the early June peaks.

- OUTLOOK: Daily studies looking to correct from O/B and hesitation ahead of the

key $1280.8 resistance has taken its toll with a sell-off and bearish close

Friday that sees pressure on layers of support $1243.8-1255.7. Bears need a

close below $1243.8 to confirm a break of key supports and to see immediate

focus return to the 200-DMA ($1229.4). Bulls need a close above $1264.4 to gain

breathing room and above $1280.8 to target 2017 highs.