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

GOLD: In commodities, spot gold was closing near $1,260.35 per ounce, after

trading in a $1,251.61 to $1,265.31 range, The August 1 high of $1,274.16 was

the highest since June 14 when gold peaked at $1,280.77 and the precious metal

has edged lower subsequently.

- 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.

- OUTLOOK: Bears managed a dip below key DMAs Tuesday but follow through has

been lacking with support emerging ahead of the 21-DMA. Correcting O/B studies

remain a concern for bulls. The $1267.2 resistance is key today with bulls

needing a close above to negate Tuesday's dip and return focus to

$1274.0-1280.8. Above $1280.8 is needed to target 2017 highs. Bears need a close

below $1243.6 to shift focus to the 200-DMA ($1229.2).